Ownership Matters: Financial Health of Indian Investment Banks

Author(s)	Chaithanya B, Manohar S N, Madhu Kumar V, Nivas T K
Country	India
Abstract	This study examines the financial health of twelve Indian investment banks — drawn equally from private, public-sector and foreign ownership categories — over the period FY 2020–2023. Using secondary data from annual reports and regulatory disclosures, it evaluates profitability (ROE, ROA), cost efficiency (Cost-to-Income Ratio, Net Interest Margin), leverage and resilience (Debt-to-Equity Ratio, Provision Coverage Ratio), and liquidity (Current Ratio, Cash Ratio). Findings show private-sector banks, particularly ICICI Securities, Kotak Mahindra and Axis Capital, leading on profitability and cost discipline; public-sector banks, led by Canara Bank, favoring conservative leverage and stronger provisioning; and foreign banks combining high liquidity with weak or negative profitability. The study concludes that private banks currently set the performance benchmark, while each ownership group faces a distinct vulnerability that will need attention amid growing competition and digital disruption.
Keywords	Investment Banking, Financial Performance, Profitability, Liquidity, Leverage, Private Sector Banks, Public Sector Banks, Foreign Banks, India
Field	Sociology > Banking / Finance
Published In	Volume 8, Issue 4, July-August 2026
Published On	2026-07-26
DOI	https://doi.org/10.36948/ijfmr.2026.v08i04.83877

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