homevideos Newsearnings News

Expect Rs 550 crore of NPAs & accounts worth Rs 850 crore to get recast in Q4: South Indian Bank

videos | Jan 22, 2021 11:35 AM IST

Expect Rs 550 crore of NPAs & accounts worth Rs 850 crore to get recast in Q4: South Indian Bank

Mini

We expect Rs 550 crore of non-performing assets (NPAs) and accounts worth Rs 850 crore to get recast in Q4, said Murali Ramakrishnan, MD & CEO of South Indian Bank, on Friday.

We expect Rs 550 crore of non-performing assets (NPAs) and accounts worth Rs 850 crore to get recast in Q4, said Murali Ramakrishnan, MD & CEO of South Indian Bank, on Friday.

Recommended Articles

View All

South Indian Bank reported a net loss for the first time as well as a decline in the loan book on a year on year basis in Q3 of FY21. They have also guided for more stress going forward.
Speaking in an interview with CNBC-TV18, Ramakrishnan said, “About Rs 550 crore is what we are estimating as likely NPA and we are looking at a restructuring of Rs 850 crore. Restructuring, we haven’t done much in this quarter. When we look at an estimate of credit cost, it is close to 2.6 percent for this year, FY21, and I am expecting this to be around 2.2-2.25 percent in FY22.”
On the growth front, he said, “We expect growth to be happening from products which are going to be less prone to delinquencies. So we are focusing on growth in retail and I am happy to say that gold which has been a focus area for us, where we have grown by 20 percent and amongst retail, we have grown home book which is better of the two compared to mortgages.”
“Therefore, we will be choosy in growing our portfolio and we are focusing on areas which we believe are going to be good for creating a decent book in the long run,” said Ramakrishnan.
Watch the video for more
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng