PN Vasudevan, MD and CEO of Equitas Small Finance Bank said that he is not expecting much on the non-performing asset (NPA) front in the second wave of COVID-19.
“The wave two is just a two-month phenomenon. Last year was 6-months of lockdown. This year, in 2-months most of the states are coming back to opening up. So, we believe that the gross non-performing assets (GNPA) per se may not undergo much of a change this year,” he said in an interaction with CNBC-TV18.
On collections, Vasudevan said, “April was a much better month from a collection perspective but the reverse happened in May as we have a large presence in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, etc. So, we will have to wait and watch how the lockdown starts to open up. By July, we hope that things will be back to normal.”
For the entire management interview, watch the video