Expect 5-6% growth in loans for FY22, says BoI's AK Das

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Bank of India posted its Q4FY21 earnings. AK Das, MD and CEO of the bank, discussed the fineprint.

Bank of India posted its Q4FY21 earnings. AK Das, MD and CEO of the bank, discussed the fineprint.
“We expect to see 5-6 percent growth in our loan book,” he said in an interview with CNBC-TV18. “..., which will be subject to revisit once the June quarter numbers are finalised,” he added.
He expects the economy to bounce back from Q2FY22 onwards. “We will be able to further revise our guidance then,” he mentioned.
“Around Rs 38,000 crore is locked up in National Company Law Tribunal (NCLT) and the accounts are at various stages of resolution,” he said.
For the current year, the bank is aiming at a recovery of around Rs 8,000 crore. “Hopefully the NCLT resolution will happen. That will significantly bring down our non-performing assets (NPAs) number,” he shared.
He said slippages have been well under control. “Slippage ratio is about 2.41 percent now and we aim to bring it down to below 2 percent in FY22,” he said.
For the full interview, watch the accompanying video

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