In case of financial companies, it is almost impossible to say anything with certainty (about the quality of assets, recovery processes, whether the numbers are being fudged etc.) unless one is an insider and really in the know of things. See the recent case of IndusInd Bank. Investing is a matter of faith in the management more than anything else. Bad asset quality is apparent and can be seen by everybody, but good quality cannot be guaranteed even if nothing adverse is visible. Absence of evidence is not evidence of absence. After I realized this, I stopped investing in financial companies totally. Just not my cup of tea.
(Disc: No view on Arman. Not invested, not interested.)