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Last Updated : Dec 08, 2018 08:32 AM IST | Source: CNBC-TV18

Bank of Baroda chief says loan growth close to 20%, credit costs declining

We are expecting that the NPA numbers will continue to decline in absolute terms', PS Jayakumar, CEO of Bank of Baroda.

CNBC TV18 @moneycontrolcom

PS Jayakumar, Managing Director and Chief Executive Officer of Bank of Baroda, spoke to CNBC-TV18 about the lender's loan growth and asset quality.

"We stay with the same outlook, loan growth continues to be in 15-20 percent level; closer to 20 percent than to 15 percent," Jayakumar said on December 7.

“We are expecting and hoping that the net non-performing asset (NPA) numbers will continue to decline in absolute terms and therefore in percentage terms as well,” he added.

Talking about the credit costs, Jayakumar said, “Certainly the expectation is that credit cost would come down, at least for us we have been seeing a decline on a quarter-to-quarter basis and hope we will keep the trend there.”

“The provision coverage ratios are improving for us and for everybody else in the industry,” he added.

On the merger front, he said, "Legal processes being assessed for a merger with Dena Bank and Vijaya Bank." According to him, the government would provide adequate growth capital for the combined merged entity.

Source: CNBC-TV18
First Published on Dec 7, 2018 01:00 pm
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