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videos | IST

Shriram Transport Finance relooking at potential merger with Shriram City

Shriram Transport Finance Corporation has started relooking into a potential merger with Shriram City Union Finance, Umesh Revankar, managing director (MD), told CNBC-TV18.

Shriram Transport Finance Corporation has started relooking into a potential merger with Shriram City Union Finance, Umesh Revankar, managing director (MD), told CNBC-TV18.
The company reported earnings for the June-ended quarter with an all-time low net interest margin (NIM) which led to the lowest ever return ratio this quarter. The company also reported a 16.4 percent growth in gross non-performing assets (NPAs).
"In the last couple of years because of certain changes in the market condition, we had put that (merger) into backburner, but we have started relooking into it. However, it’s too early to report anything on the same, but we need to look at the market condition and the advantages. We will take a call in a couple of quarters,” Revankar said.
On disbursements, he said, “Business was normal in June and it has come back to normalcy. July, we are seeing good demand; the pent up demand is good and our disbursement should be good in July to September quarter.”
For the entire management interview, watch the video