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Credit growth of 20% plus doable, says Federal Bank

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Shyam Srinivasan, MD and CEO, Federal Bank said the credit growth for the bank for the last 9-10 quarters has been above 20%.

Shyam Srinivasan, MD and CEO, Federal Bank said the credit growth for the bank for the last 9-10 quarters has been above 20%.
He said the restructured standard book has declined to Rs 500 crore by Q1FY19, which was Rs 1425 crore end of December.
Srinivasan also said they would stick by the guidance of the overall credit portfolio and the quality of the portfolio.
"Credit growth of 20% plus should be repeatable," he said, adding that focus would be on keeping credit costs as guided between 65–70 basis points in FY19.
Talking about the IDBI-Federal Life, he said, "One of the partners is likely to get a new investor and we will know further details in next 3-4 weeks. As of now IDBI-Federal has performed remarkable well in FY18 and start of FY19," he added.
With regards to margins, he said the guidance is for it to go to levels of 3.2% for the full year and it is likely to trend around that level.
He said, “As slippages tend to keep coming down, you are ensuring that the reversal of interest income is not there, so it is not about new credit being much higher priced but it is things that interplay between the mix of the products, credit standards. So confident that 3.2% is very much possible”