Bapcha's Stocks

ICICI Bank: Boring Business, Compelling Valuation

After more research, we have found that ICICI's loan practices are absolutely terrible [by US standards]. We found instances in which ICICI under-wrote multiple auto loans without getting the deed to the car that they were financing. They have already written down their $250 M in exposure to US sub-prime paper.


On a more positive note, ICICI does have an excellent Life Insurance business [growing at an over 40% clip].

Bapcha

ICICI Bank: Boring Business, Compelling Valuation

Stockezy/All:

ICICI is targeting home loans [both Rupee and Dollar denominated loans] - with 20% down - for Desis [Indians] who want to own a home in India in addition to what they have here in the US.

Bapcha bapcha.com