Expect 13-15% loan growth YoY; expect retail business to grow: BoB

作者:Ailsa    發表日期:2018-07-09 14:25:17

Worsening asset quality continues to haunt Bank of Baroda in the third quarter due to elevated slippages. In an interview with CNBC-TV18, PS Jayakumar, Managing Director & CEO of Bank of Baroda spoke about the results and his outlook for the company.

We stay with the guidance of about 15 percent on a year-on-year (YoY) growth, he said.

Slippages this quarter were elevated because of one telecom and one power account. We hope these accounts get resolved over a period of time, he added.

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According to him, the telecom account may get written back by March 2018.

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We are now having a lower level of stressed assets and the net non-performing assets (NPAs) plus stressed assets ratio has also declined by about 80 basis points (bps), said Jayakumar.

On retail business, he mentioned that, we are continuing to make good progress in terms of building the distribution channels. For us, the distribution channels other than the bank has been quite minimal, so as those take place, we should see increase in the growth of the retail and the other businesses as well, he further mentioned.

Looking to exit non-core businesses, he said.

For full interview, watch accompanying video...