In an interview with CNBC-TV18, Ravindra P Marathe, MD & CEO of Bank of Maharashtra spoke about the latest happenings in the bank and sector.
Bank of Maharashtra is in focus because the Reserve Bank of India (RBI) has initiated Prompt Corrective Action (PCA). “As far as the liabilities are concerned, we are very much on track,” Ravindra P Marathe, MD & CEO of Bank of Maharashtra told CNBC-TV18.
Bartronics has helped banks so far reached out to 3 lakh people as part of Jan Dhan Yojana, says K Udai Sagar, Managing Director of the company. It is currently working in tandem with Andhra Bank. Bank of Maharashtra is a potential client, says Sagar.
The bank made extra provisioning for discoms and Food Corporation of India, which impacted Q4 earnings figures, says Sushil Muhnot, CMD of Bank of Maharashtra.
The bank's gross non-performing assets (NPAs) rose to 5.4 percent at Rs 7986.34 crore versus Rs 7574.86 crore on a quarter-on-quarter basis.
In an interview with CNBC-TV18, Executive Director of Bank of Maharashtra R Athmaram says that NPAs in the steel sector are manageable. He expects the bank's NPA situation to improve in coming two quarters.
The company also has huge debt on its books, but Gautam Malhotra of Amtek Auto says he is exploring various options to reduce the same and expects to lower it by up to Rs 2,000 crore in the next two years.
Bank of Maharasthra expects its capital regulatory to be 0.5 percent above the regulatory level this year, R K Gupta, ED, Bank of Maharasthra told CNBC-TV18.
Bank of Maharashtra has cut base rate by 15 basis points to 10.25% with effect from December.
"By this month-end, we want to close the deal and come out of some of these problem accounts," executive director R Athmaram told CNBC-TV18's Sumaira Abidi and Reema Tendulkar.
â€œSlippages in this quarter have been Rs 1,300 crore. However the most difficult part is over,â€ Sushil Muhnot CMD, Bank Of Maharashtra said in an interview with CNBC-TV18.
With the announcement of a 20 percent cut in power tariff in Maharashtra, concerns were raised about the health of the banks which are lenders to MSEDCL.
Bank of Maharashtra states that higher provisions and a rise in depreciation because of that, can be blamed for the reduced profits in the current quarter.
Bank of Maharashtra's CVR Rajendran spoke to CNBC-TV18 regarding government capital infusion of Rs 14,000 crore for the public sector banks and what are his expectations from the same.
Bank of Maharashtra may opt for QIP route or follow on public issue if it doesn‘t receive the entire amount from the government
More than 30 percent of Bank of Maharashtra's deposits are in interest-sensitive deposits, which come to more than Rs 1 crore, and unless the cost of deposits is increased, the bank may not be in a position to retain these deposits
Since their bank's base is small the credit growth in percentage terms appears to be large. So, the credit growth for the bank will remain above industry but will moderate to 16-18 percent in FY14, says CVR Rajendran, ED, Bank of Maharashtra.
Bank of Maharashtra, a public sector lender announced its third quarter results today. Its net profit rose by 43 percent year-on-year to Rs 194 crore, led by decline in provisions.
Anup Shankar Bhattacharya, chairman and managing director of Bank of Maharashtra said, the bank's business model has helped them to achieve robust net interest margin (NIM) of 3.18% in this quarter. He is hopeful of maintaining the same in the near future.
AS Bhatacharya, chairman and managing director, Bank of Maharashtra aims to maintain its net interest margins (NIMs) at 3% ahead.
S Bhatacharya the CMD of Bank of Maharashtra, in an interview on CNBC-TV18 spoke about the company’s fourth quarter results and what the road ahead looked like for the company going forward.
In an interview with CNBC-TV18 Madukant Sanghvi, ED of Bank Of Maharashtra said, " With the help of this bank, we will be able to make 8% capital adequacy ratio in Tier I level and the total capital adequacy will cross 14.5%."