Vehicle finance, mircro finance (MFI), and gems and jewellery segment will be the major growth drivers for IndusInd Bank going forward, Sumant Kathpalia, MD & CEO said in an interview to CNBC-TV18.
“In my opinion, specifically the segments where we will see growth and which are high yielding segments for us is the vehicle finance segment, the mircro-finance segment, and our gems and jewellery segment and the secured loan segment. All these segments we are seeing growth back and you should see a better growth in the assets book this quarter,” he said.
He further added that the focus has been on realigning the balance sheet. “If you look at the first half, my objective was to realign the balance sheet. The focus has been on creating provisions, getting more granularisation on deposits, and churning the corporate book. That process is continuing,” he said.
Kathpalia said that they have already provided Rs 2,155 crore to the COVID-19-related book. He also said the bank will have restructuring in low single digits and it will make elevated provisions for loans that get restructured now.
He further added that IndusInd will continue to increase market share in the commercial vehicle (CV) and MFI businesses.