Download To Analysis of the Financial Performance Management and Risk

To Analysis of the Financial Performance Management and Risk
Measurement in the Indian Public-Private Sector Banks
Dr Nenavath Sreenu,
Assistant Professor in Finance and Accounts
Department of Business Management,
Indira Gandhi National Tribal University
(A Central University)
Madhya Pradesh -484887
Abstract
The study measures the performance of the public and private sector banks Efficiency
and profitability in India the study main importance due to intense competition, greater
customer demands and changing banking reforms. Since competition cannot be
observed directly, various indirect measures in the form of simple indicators or complex
models have been devised and used both in theory and in practice. This study attempts
to measure the relative performance of Indian banks. The economic reforms in India
started in early nineties, but their outcome is visible now. Major changes took place in
the functioning of Banks in India only after liberalization, globalization and privatization.
It has become very mandatory to study and to make a comparative analysis of services
of Public sector Banks and Private Sector banks. This research study is going to an
attempt to analyze how financial statement analysis of Public and Private sector banks
has been managing NPA. We have used statistical tools for projection of trend.
Keyword: Efficiency, Profitability, Banking, NPA and Performance
Introduction
The present study main objective of the to classify Indian public and private sector banks on the
basis of their financial characteristics and to assess their financial performance. The study found
that Return on Assets and Interest Income Size have negative correlation with operational
efficiency, whereas positive correlation with Assets Utilization and Assets size. It is also
revealed from the study that there exists an impact of operational efficiency, asset management
and bank size on financial performance of the Indian and Public Private Sector Banks. Banks are
key financial intermediaries or institutions that serve as “middle man” in the transfer of fund
from servers to those who invest in real assets as house, equipment and factories. In performing
this function financial intermediaries improve the well being of both saver and investor. By
improving economic efficiency they raise living standard of the society. The banking sector is
considered to be an important source of financing for most businesses. They play a very
important role in the effort to attain stable prices, high level of employment and sound economic
growth. They make funds available to meet the needs of individuals, businesses and the
government. In doing this, they facilitate the flow of goods and services and the activities of
governments
The study has seen many positive developments in the Indian banking sector from last ten years.
The policy makers, which comprise the Reserve Bank of India (RBI), Ministry of Finance and
related government and financial sector regulatory entities, have made several notable efforts to
improve regulation in the banking sector. The banking sector now compares favourably with the
region on metrics like growth, profitability and non-performing assets (NPAs). A few banks have
established an outstanding track record of innovation, growth and value creation. According to
in the indian Banking act under Section 5(A) as "any company which transacts banking,
business" and the purpose of banking business defined under Section 5(B),"accepting deposits of
money from public for the purpose of lending or investing, repayable on demand through
cheque/draft or otherwise". In the process of doing the above-mentioned primary functions, they
are also permitted to do other types of business referred to as Utility Services for their customers
(Banking Regulation Act, 1949). During Bruisers' time, three Presidencies’ Banks were opened
in Bengal (1809), Bombay (1840) and Madras (1843) with powers to issue Notes. In the year
1921, due to banking crisis during First World War, the three Presidency Banks merged to form
Imperial Bank of India. In the year 1955, after Independence, Imperial Bank of India was
nationalized and renamed as State Bank of India (SBI) with a primary mandate to go to rural
areas by opening at least 400 branches immediately. In the year 1957, the seven banks that were
earlier catering to the rulers of different areas or States
Literature Survey
Author Name
Yadav
Year
2014
Goel & Bajpai,
2013
Dangwal and
Kapoor
2010
Sharma
2010
Makesh
2010
Identified Variables from the particular context of the study
The concludes that before the global recession foreign bank group was
performing much better than other banking sectors. Private, Nationalized
and SBI bank groups kept on performing almost same, but certainly
better than RRBs for all the period of study.
The used financial indicators like Liquidity, Capital Adequacy, and
Profitability ratios to explain that there is no such great impact on Indian
banks due to global recession for the time period 2006-2009.
The study evaluated the financial performance of nationalized banks in
India and assessed the growth index value of various parameters through
overall profitability indices. The data for 19 nationalized banks, for the
post-reform period from 2002-03 to 2006-07, was used to calculate the
index of spread ratios, burden ratios, and profitability ratios.
To analyze the powers given by the countries to their regulators to carry
out resolution of failed banks among 148 countries during 2003. She
used 12 variables for correlation and regression analysis. Her study
revealed that the countries which had faced systemic crisis were more
prone to providing liquidation powers to their regulators.
He revealed that all the three banks maintained capital in excess of the
stipulated norms of the RBI. Federal Bank had the lowest NPA Ratio to
Joshi Vijaya
2007
Balasubramanin,
2007
Chien & Danw
2004
Pathak
2003
Singh R
2003
Muniappan
2002
Ballabh
2001
Kumar Vijay T.
2008
Jim Ryan and
David Shu
2007
Wood
2008
S. Kalaiselvi
2010
net advances and had the maximum return on equity.
Indian Banking Sector was financially unsound, unprofitable and
inefficient. They made a critical examination of the changes that have
taken place in the banking sector after reforms. Further, what remains to
be done with respect of pre-emption of bank resources,
Revealed that private sector banks play an important role in development
of Indian economy. After liberalization, the banking industry underwent
major changes. The economic reforms have changed the banking sector.
RBI permitted new banks to be started in the private sector as per the
recommendation of the Narashiman Committee.
Based on innovative two-stage data envelopment analysis model. Bank
with better efficiency does not always mean that it has better
effectiveness was the upshot of the study.
focused on financial parameters like deposits, profits, return on assets
and productivity from the view point of Indian Private Sector Banks
The paper Profitability management in banks under deregulate
environment, IBA bulletin, No25, has analyzed profitability management
of banks under the deregulated environment with some financial
parameters of the major four bank groups i.e. public sector banks, old
private sector banks, new private sector banks and foreign banks,
profitability has declined in the deregulated environment.
The study suggested many effective measures to strengthen the Indian
banking system. The reduction of NPAs, more provisions for standards
of the banks, IT, sound capital bare are the positive measures for a
paradigm shift. A regulatory change is required in the Indian banking
system
Analyzed challenges in the post-banking sector reforms. With
globalization and changes in technology, financial markets, world over,
have become closely integrated. For the survival of the banks, they
should adopt new policies/strategies according to the changing
Environment.
Observes that, (RCSA) is a process through which operational risks and
the effectiveness of controls are assessed and examined to provide
assurance that all business objectives would be met.
analyse the global survey on operational risk management and observe
maturity of foundational activities, such as loss event collection and risk
control self-assessments (RCSA), but an immature state for scenario
analysis, capital modelling and key risk indicators indicating increasing
popularity of RCSA among various Operational Risk management
techniques.
advocates the use of RCSA and KRI approaches as they are a lot more
objective and, provide the necessary focus for corrective action, leading
to truly controlling operational risks rather than just measuring it, and
hence is more effective.
in their paper, ‘Market Value Added : A study in the select Indian
Software Companies’ examined the effect of selected variables on MVA
Dr. N. Sakthivel
2011
in the Indian software industry. The researchers selected 102 software
companies for which data were available for minimum eight years. The
study concluded that MVA is very important to know the wealth creation
by a company. The MVA analysis showed that many companies have
destroyed the wealth of shareholders. The regression analysis concluded
that MVA is influenced by the Market Price.
in the paper ‘Value Creation in Indian Pharmaceutical Industry: A
Regression Analysis’ examined the value creation in Indian
Pharmaceutical Industry from 1997-98 to 2006-07 by using regression
analysis. The study strongly concluded that there is significant difference
in mean value creation across low, moderate and high total productivity
for pharmaceutical companies.
Statement of the Problem
1. Need of the Study Significance of performance the financial sheet of the selected banks
Balance sheet for sustainable growth and development, has been recognized since2000 on
wards.
2. This Research Paper calls for a system that first measures and evaluates the performance,
and then brings out the strengths and weaknesses of the banking sector for the purpose of
further improvement. Efficient performance evaluation system encompasses all aspects of
an organization. With the advances in computational tools, performance evaluation
systems have evolved over a period of time from single-aspect systems to more
comprehensive systems covering all aspects of an organization. Moreover, almost every
industry,
3. The importance of evaluation, can adopt many methods to evaluate the performance. It
proves to be better for performance measurement, evaluation and strategic planning for
future growth and development of the Indian banks in the light of changing requirements
of this sector.
4. The study analyzes the comparative profitability performance of banks for the financial
periods 2000-2014. By examining the relationship among banks equity, assets and
deposit size to profitability such as ROE, ROA and NIM. The banks will be ranked based
on their profitability performance and growth percentage. This will help the banking
industry for the improvement or change in their business model.
Objective of the study
The main objectives of the study are as follows:
1. To study the financial stability of public and private sector banks in India.
2. To make the judgment of the financial performances of public sector and private sector
banks in India since 2000 to till.
3. To enable the investors to take investments decision on the basis of Risk & Return.
Hypothesis of the study
1. The performance of the banks in terms of various parameters such as like Ratio analysis
(capital adequacy, profitability, assets quality, returns and liquidity) have not improved
since 2000 to till.
2. H2. There is no significant variation in the financial performance of public sector and
private sector banks since 2000 to till.
3. There is no relationship among the financial performance measured by Return on Assets
and Interest Income Size and the Independent Variables (Operational efficiency, Asset
Management and Bank Size)
Scope of Study
The study is about the role of profitability analysis of public and private sectors banks in
India. It is mainly dealt with the Profitability ratios show a company's overall efficiency and
performance. A variety of Profitability Ratios (Decision Tool), multiple regression analysis
and correlation methods can be used to assess the financial health of a business.
RESEARCH METHODOLOGY
Data Collection and selected samples
This Research paper made based on secondary data. The required data for this study were
collected from the various sources like Reports on Currency and Finance (annual reports),
Monthly RBI bulletins, published by RBI, Govt. of India, Reports published by National Institute
of Bank Management, Annual reports of various banks, publications and notifications of RBI,
Reports published by Indian Bank Association (IBA), Reports of Credit Rating Agencies like
S&P, CRISIL, ICRA, Reports of various consulting firms like Arthur Anderson, Price
Warehouse, etc. The time series data were collected from 2000 to 2014. The performance
analyses for this study were based on 20 banks. The study covers both Public Sector and Private
sector Banks in India since liberalization. The banks were selected on the basis of categorization
of Paid up Capital after 2000 to 2014.
Selected Sample Size
S.NO
1
2
3
Selection criteria
Paid up capital More than 250 Crore
Paid up capital 50 to 250 Crore
Paid up capital less than 50 Crore
Sample size
Large sIZE
Medium Size
Small Size
Selected Banks in the Public and Private Sector
S.NO
Public Sector
Private Sector
1
State Bank of India
ICICI
2
Central Bank of India
HDFC
3
United Bank of India
AXIS Bank
This study uses the major banking activities comprising of Total Deposits, Total Credits,
Total Assets, Total Shareholders’ Equity, Return on Equity (ROE =Net Profits/ Total
Shareholders’ Equity), and Return on Assets (ROA= Net Profit/ Total Assets) with a view to
classifying Indian Private Sector banks. In order to examine and compare the impact of
independent variables on the dependent variables, techniques of ratio analysis, correlations and
regression have been applied. Technique of Analysis of Variance (ANOVA) has also been used
in testing the hypotheses.
Statistical Tools Used
The study has used the analytical methods for which we have selected variable purpose
in the particular research paper and this study is going to apply the financial ratios calculated
which are further calculation for individual banks and comparative analysis of the private sector
banks and public sector banks. For Calculating individual banks performance multiple regression
analysis has been used. The Durbin Watson test is applied to overcome the concern of
autocorrelation. For comparative analysis independent t-test is performed.
Data analysis and Interpretation
The multiple regression analysis is calculated by using SPSS software and statistically can be
defined in following manner: profitability is considered as dependent variable and the various
independent variables are returns, assets, liquidity and capital adequacy.
(1)
Y' AB1 X1 B2 X2 B3 X3
Where,
Y= Relationship between a dependent or criterion variable of interest
X= Independent variables or potential predictor variables
A= Constant
B= Corresponding Value
Multiple Regression Analysis of Public and Private Sector Banks
Std. Error
Dependent
R
Adjusted
of the
variables
R
Square
R Square
Estimate
PBDITA/Total
Income
1.000
1.000
PBDPTA/Total
Income
1.000
1.000
PBT/Total
Income
0.324
0.324
PAT/Total
Income
1.000
1.000
Income net of
P&E
1.000
1.000
PBT Net of
P&E/Total
Income
0.419
0.546
Net of P&E
1.000
1.000
DurbinWatson
3.619
3.574
2.532
1.502
2.762
2.737
9.638
The above table shows the negative relationship between profitability and return, assets,
liquidity, capital adequacy. It is also found that Non-performing assets have increased sharply.
The Net NPAs and the Gross NPAs as proportions of Net and Gross Customer Assets were at
0.32% and 1.52% respectively. The provisions held together with accumulated write-offs, as a
proportion of Gross NPAs and accumulated write-offs, and The analysis also shows that the
value of coefficient of multiple determination (
) is quite high. The analysis revealed that
about 94%-100% of variation in profitability is explained by the combined effect of independent
variables. It may be seen from the table that the required coefficient of variables are significant
at 1% level of significance. It is concluded that coefficient of determination is very high. It may
be seen from tables that DW values in the study are not significant at 1% level of significance,
signifying that it is rather reasonable to assume the absence of multicollinearity.
Result of Correlations Analysis
ROA
Interest
Operational Assets
Assets Size
Income
Efficiency
Utilization
1
ROA
0.4500314
1
Interest
Income
0.3465
1
1
Operational -0.021043
Efficiency
0.3422
0.5123
0.5921
0.31094
1
Assets
Utilization
0.0947
0.8031
0.8391
0.9127
1
Assets Size
The table shows the results of correlations analysis between dependent and independent
variables. It is clear that Return on Assets and Interest Income Size have negative correlation
with operational efficiency (-0.49 & -0.07 respectively) while positive correlation with Assets
Utilization (0.47 & 0.09 respectively) and Assets size (0.42 & 0.99 respectively). Based on these
Correlations, null hypothesis are rejected and the first alternate hypothesis is accepted.
Summary of Result of ANOVA
Mean Squares F
Degree of
Sum of
Freedom
Squares
Regression
27
9.225
.50425
12.9840
Residual
8
2.627
0.04712
Total
35
11.743
Predictors: (Constant) Assets Size, Assets Utilization (%), Operational
Efficiency
Dependent Variable: ROA (%)
Mean Squares F
Degree of
Sum of
Freedom
Squares
Regression
27
0.989
675443
576.843
Residual
8
12765
874908
Total
35
2.7645
Predictors: (Constant) Assets Size, Assets Utilization (%), Operational
Efficiency
Dependent Variable: Interest Income
The Table shows the summary results of the analysis of variance with a view to testing impact of
independent variables i.e. Assets Size, Assets Utilization and Operational Efficiency on financial
performance i.e. return on Assets and Interest Income of the Indian Private Sector Banks. As far
as impact of independent variables on Return on Asset is concerned, it is clear that the calculated
value of ‘F’ is12.9840, which is more than the table value of ‘F’ (3.196777) at 5% level.
Therefore, second alternate hypothesis is accepted. As far as impact of independent variables on
Interest Income is concerned, it is clear that the calculated value of ‘F’ is 576.843, which is more
than the table value of ‘F’ (3.196777) at 5% level. Therefore, second alternate hypothesis is
accepted.
The comparative study of the total asset turnover Ratio of the Public and Private Sectors Banks
Performance: Further the total asset turnover ratio is compared on the basis of variables:
1.Total Income / Avg. total assets
2. Total Income / Compensation to employees
The independent sample‘t’ test analysis in the below table showing that indicates the mean,
standard deviation for private sector and public sector banks. The value of‘t’ shown in table
reveals total income/ average total assets and total income/ compensation to Employees does not
show the significant level of 5% of confidence.
Comparison on the Basis of total Asset turnover Ratio of the Public and Private Bank
performance
Asset
Banks
N
Mean
Std.
Deviation t Sig
Turnover
Ratio
Total Income Public
150
3.o213
0.5121
4.212
0.0210
/ Avg. total
assets
Private
169
1.0912
0.2134
Total Income Public
150
13.5101
9.0463
6.4012
0.00130
/
Compensation Private
169
7.3201
6.472
to employees
After clear observation Public Sector Banks like SBI, United Bank of India and Central Bank of
India had the problem of overstaffing of 29 percent. However it has been noticed that private
sector banks Like, ICICI, HDFC and AXIS Bank showed better maintenance then public sector
banks.
Ratios
Sectors
Public Sector
Private Sector
Banks
SBI
CBI
UBI
ICICI HDFC AXIS
Demand Deposit Mean
17.43
13.09
9.54
18.76
12.87
4.98
Ratio
SD
1.98
0.985
2.865
1.985
1.008
0.641
Co-variance
3.974
4.987
5.086
3.987
5.213
2.412
Saving Deposit
Mean
15.46
11.232 15.319 10.432 9.430
13.903
Ratio
SD
3.096
5.213
7.430
4.098
2.097
4.781
Co-variance
4.210
5.093
2.071
4.908
3.012
3.212
Net Interest
Mean
19.08
18.09
21.096 31.081 12.013 14.201
Margin
SD
0.943
0.543
1.091
4.230
3.091
4.301
Co-variance
6.012
2.120
3.210
4.305
1.012
0.659
Debt Equity
Mean
17.43
12.091 20.06
25.5
24.81 21.98
Ratio
SD
1.08
0.93
0.65
1.023
.098
1.20
Co-variance
2.65
3.12
1.09
2.095
4.323
.21
Credit Deposit
Mean
12.09
11.23
21.32
17.32
31.16
15.19
Ratio
SD
20.879 21.094 12.98
10.453 10.312 12.871
Co-variance
4.23
5.12
2.87
7.45
4.76
4.095
Return on Assets Mean
32.34
12.45
16.45
19.00
23.67
21.76
SD
0.954
0.324
0.768
1.098
2.523
0.684
Co-variance
3.656
4.325
6.547
5.654
5.672
5.43
Capital
Mean
24.43
26.43
16.91
32.30
16.091 17.301
Adequacy Ratio
SD
3.012
0.120
1.210
5.305
5.012
0.659
Co-variance
7.43
2.091
0.06
25.5
24.81 21.98
Return on Equity Mean
1.08
0.93
0.65
1.023
.098
1.20
SD
2.65
3.12
1.09
2.095
4.323
.21
Co-variance
12.09
11.23
21.32
17.32
31.16
15.19
Operating
Mean
0.879
1.094
2.98
0.453
0.312
2.871
Margin Ratio
SD
4.23
5.12
2.87
7.45
4.76
4.095
Co-variance
32.34
12.45
16.45
19.00
23.67
21.76
Net Profit
Mean
9.54
13.24
21.768 31.098 12.523 16.684
Margin Ratio
SD
3.656
4.325
6.547
5.654
5.672
5.43
Co-variance
0.943
0.543
1.091
4.230
3.091
4.301
Demand deposit is more in private sector banks than in public banks it may be because no
interest is paid on these accounts except in special cases where a large dormant balance is kept
which could otherwise be transferred to the savings deposits. The utilize a savings deposit to
save funds for an expensive purchase, such as a house or a car. Because most customers keep
money in a savings deposit for a longer period than a checking account, a savings deposit pays a
slightly higher interest. Interest earned by bank is there foremost income which is more in case
of HDFC and other banks following are almost at same level and chart shows that there is very
less variation in case of HDFC bank and more variation in SBI bank. The debt-to-equity ratio
(debt/equity ratio, D/E) is a financial ratio indicating the relative proportion of entity's equity and
debt used to finance an entity's assets. If the ratio is increasing, the company is being financed by
creditors rather than from its own financial sources which may be a dangerous trend. A debt-toequity ratio is calculated by taking the total liabilities and dividing it by the shareholders' equity:
Debt-to-equity ratio = Debt / Equity
One of the most important profitability metrics is return on equity (or ROE for short).
Return on equity reveals how much profit a company earned in comparison to the total amount
of shareholder equity found on the balance sheet. ROE= Net Income/ Shareholders Fund and In
this case ICICI has the capacity to meet the time liabilities and other risks such as credit risk,
operational risk etc. at 18.5 followed by HDFC at 16.45 and variation is more in case of ICICI.
As per table AXIS bank enjoys more net profit than other banks at 15.53 and followed by BOB
at 15.16 and variation is also least in case of AXIS bank and much higher variation in ICICI.
EMPIRICAL ANALYSIS
The research paper has taken into consideration for the evaluate the performance of Indian public
and private sector banks. Unlike traditional decomposition, input technical efficiency measure in
risk free constant returns to scale environment is decomposed into the product of risk, scale and
pure input technical efficiency. Risk in bank’s competitive environment is measured by nonperforming assets (NPA). It is the only way to account for risk in Indian banking business. The
most ideal environment that a commercial bank would like to function is no-NPA and constant
returns to scale. The study has consider for this risk free scale efficient environment. Input losses
experienced by public and private sector banks in this environment are significantly larger than
those experienced by foreign sector banks. If risk is treated as non-discretionary input, it
influences the bank environment exogenously, under scale efficient environment, the risk
uncontrolled input technical efficiency, ruite crts λ can be derived solving a linear programming
problem.
RISK FREE, CONSTANT RETURNS TO SCALE INPUT TECHNICAL EFFICIENCY
Coefficient of
Sector
Min
Max
Mean
S.D
Variation (%)
Public Sector 0.2365
Banks
Private
0.5621
Sector Banks
0.3654
0.0238
0.1032
23.0231
0.9654
0.5620
0.2315
21.0239
RISK FREE, CONSTANT RETURNS TO SCALE INPUT
TECHNICAL EFFICIENCY
Public Sector Banks
Private Sector Banks
21.0239
0.5621
0.2315
0.9654
0.562
23.0231
0.2365
0.1032
0.3654
0.0238
Variation (%)
Min
Max
Mean
S.D
Coefficient of
RISK UNCONTROLLED INPUT TECHNICAL EFFICIENCY IN CONSTANT
RETURNS TO SCALE ENVIRONMENT
Coefficient of
Sector
Min
Max
Mean
S.D
Variation (%)
Public Sector 0.5846
Banks
Private
0.9614
Sector Banks
0.6310
0.3289
0.0368
28.0541
0.9827
0.1071
0.6207
35.0123
RISK UNCONTROLLED INPUT TECHNICAL
EFFICIENCY IN CONSTANT RETURNS TO
SCALE ENVIRONMENT
Public Sector Banks
0.9614
0.5846
0.9827
0.631
Private Sector Banks
0.1071
0.3289
0.6207
0.0368
35.0123
28.0541
Variation (%)
Min
Max
Mean
S.D
Coefficient of
In risk uncontrolled scale efficient environment the risk constraint dramatically increases input
technical efficiency. Public sector banks , the largest commercial bank experienced 68 percent
input losses in risk free environment,
experienced no input losses in exogenous risk
environment, caused by factors like political intervention, implementation of Govt., welfare
schemes and so on . Failure to control risk leads to input losses more in private sector banks than
public. The risk controlled input technical efficiency in scale efficient environment treats risk
endogenous, which can be controlled strengthening internal risk control mechanism, for
example, by administering controls on the size of the loan, careful evaluation of the credibility of
the borrower and the collateral security, investments leading to the best opportunity costs,
motivating employees to make them feel their belongedness and spreading risk are some ways of
controlling risk in commercial bank business. The private sector banks experienced huge input
losses compared to the public sector banks. In private sector of commercial banks 43 percent of
inputs are lost on the average due to input technical inefficiency measured in endogenous risk
and scale efficient environment.
Conclusion
It can be concluded that the present study may help decision makers of Indian Private Sector
Banks and other categories of Banks in Indian Banking Sector to concentrate on banking
activities and thereby to increase the bank ranking and profitability performance. The foregoing
analysis for SBI has revealed that the overall profitability is not that high because they there NIM
is less and need to gear up the NIM. The deposits are being utilized in good Manner as they are
giving credit on it and there CDR and profitability is well associated. Debt equity ratio is also
very high. To increase the profitability their Capital adequacy ratio should also be looked into.
The Effective and regular follow-up of the end use of the funds sanctioned is required to
ascertain any embezzlement or diversion of funds. This process can be undertaken every quarter
so that any account converting to NPA can be properly accounted for. Combining traditional
wisdom with modern statistical tools like Value-at-risk analysis and Markov Chain Analysis
should be employed to assess the borrowers. This is to be supplemented by information sharing
among the bankers about the credit history of the borrower. In case of new borrowers, especially
corporate borrowers, proper analysis of the cash flow statement of last five years is to be done
carefully.
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