"For the current financial year, we are not expecting more than Rs 1,100 to Rs 1,200 crore of total slippage including the restructured and the normal one. And all put together, Rs 1,200 crore for the year as a whole," said Ashutosh Khajuria, Executive Director and Chief Financial Officer, Federal Bank.
Kerala-based Federal Bank has lost over 10% after reporting their highest quarterly slippages.
Khajuria said that at the end of Q3, we had guided for Rs 350-400 crore of slippages in Q4 of FY18.
A couple of accounts led to increase in slippages due to Reserve Bank of India's (RBI) circular, he added.
“There is a reduction in restructured standard book from Rs 1,425 crore now to Rs 792 crore; Rs 633 crore of reduction in restructured standard,” said Khajuria.
The bank's loan growth has remained steady at 25% year-on-year and he expects the momentum to continue.
(Edited by : Jomy Jos Pullokaran)
First Published: May 10, 2018 12:23 PM IST