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Canara Bank expects double-digit growth in retail segment; says focus on infra sector

Updated : May 19, 2021 13:00:53 IST

Canara Bank will see double-digit growth in FY22 in the retail segment, LV Prabhakar, MD & CEO told CNBC-TV18.

The bank reported earnings for the March-ended quarter and has seen a high slippage figure of Rs 15,287 crore.

“Our focus is on growth in retail and because of the verticalisation which we have done and the specialised units which we have created in the last year is giving the results and going forward in retail we are going to have a double-digit growth,” Prabhakar said.

“We are concentrating on infrastructure projects very aggressively especially hybrid annuity model (HAM) and in Q1 we will be showing growth under corporate sector also,” he said.

On slippages, he said, “We have already made a floating provision of Rs 500 crore to take care about the future slippages and we have made about Rs 494 crore additional provision for restricting portfolio. As far as slippages are concerned, we are projecting that throughout the year there will be about 2 percent slippages of the loan book.”

For the entire management interview, watch the video
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