Harsh Modi

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Last quote by Harsh Modi

There are two drivers. One is asset quality is starting to stabilize so credit costs are starting to come off, which is a very big positive. Also as the activity data on export, domestic manufacturing picks up, we're starting to get a pick-up in operating profit growth. Margin growth, loan growth are coming back so it's across the board. And it's very likely that we may be underestimating the upside here. Generally, when Singapore dollar rates go up, then Singapore banks make money. That has not happened yet in a meaningful manner.feedback
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Mar 28 2017 Singapore
Harsh Modi has most recently been quoted in an article called JPMorgan says markets are underestimating the upside of Asian banks. Harsh Modi said, “There are two drivers. One is asset quality is starting to stabilize so credit costs are starting to come off, which is a very big positive. Also as the activity data on export, domestic manufacturing picks up, we're starting to get a pick-up in operating profit growth. Margin growth, loan growth are coming back so it's across the board. And it's very likely that we may be underestimating the upside here. Generally, when Singapore dollar rates go up, then Singapore banks make money. That has not happened yet in a meaningful manner.”.
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