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India's top hedge fund turns to state-run banks as bad loans wane

Andrew Holland, however, said his bullish call was based on the assumption that India does not get a 'messy coalition' government after national elections

Reuters 

India’s top hedge fund is exploring opportunities in state-run banks, a sector shunned by most investors till now, as valuations turn attractive and the backlog of bad loans that have riddled lenders start to dwindle. State-run banks will also benefit if the economy continues to grow at about 7 per cent, Andrew Holland, chief executive of Avendus Capital Public Markets Alternate Strategies LLP, said at the Reuters Global Investment 2019 Outlook Summit. Bad loans at Indian banks reached a record $150 billion at the end of March with state-run banks accounting for the ...

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First Published: Fri, November 16 2018. 12:27 IST
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