Banks are in worse environment than last yr as in 2010. These financial stocks are in a loss consolidation for now before they selloff again when Q1 results come in. High inflation & sky high CBR has just presented tough barriers for lending income expansion.
It'll be a play abt who has the least NPL skeletons growth rather than profitability.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!