June quarter is usually a quiet period in terms of business for the banking industry. CXOs plan their overdue vacations and parties around this time. But this year they were busy jumping from one investor conference to another. On average, bank would have met at least 30 brokerages and high net worth individuals, and the number could easily double if foreign brokerages are to be included.
Completely recovering from the pain of Covid, banks were enthused to tell their side of the story in terms of business fundamentals and growth opportunities to investors. This, apparently, wasn’t with an intention to raise funds, but to perk up their prominence in the bourses and make their ready for capital raise, maybe a year from now. After all, valuations are not built in a day just like Rome.