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Last Updated : Oct 23, 2019 01:05 PM IST | Source: CNBC-TV18

Bank of Maharashtra's exposure to DHFL is Rs 550 crore, says CEO RS Rajeev

Sixty percent of Bank of Maharashtra's total exposure of Rs 12,000 crore is to HFCs while about Rs 400 crore is exposed to microfinance institutions

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Bank of Maharashtra's total exposure to non-banking financial companies (NBFCs) is around Rs 12,000 crore, said RS Rajeev, managing director and CEO of the bank.

60 percent of the Rs 12,000 crore is exposed to HFCs while about Rs 400 crore is exposed to microfinance institutions (MFIs), said Rajeev.

However, Rajeev said that there is no scope of slippages further as barring "these one-two accounts in NBFC, most of the accounts are AA and above". He said that exposure to real estate companies stands at Rs 2,200 crore.


According to him, the lender's exposure to Dewan Housing Finance (DHFL) currently stands at Rs 550 crore. "They have made the payments. The exposure is around Rs 550 crore. Two days back, they have made payment. Now only one instalment is pending.”

Elaborating on the Q2 numbers, he explained, “Asset quality has improved a lot and the main focus was given for the slippages. The previous quarter, the slippages rate was very high and this time, the slippages have come down to Rs 602 crore as against Rs 1,700 crore during Q1. The main reason was there are certain structural changes we have made in case of monitoring of the accounts, in case of all retail verticals."


Source: CNBC-TV18
First Published on Oct 23, 2019 01:05 pm