Moneycontrol
Last Updated : Jan 05, 2018 11:22 AM IST | Source: CNBC-TV18

Gross NPA will be below 12% for FY18: Bank of India

The bank recapitalisation took a giant step forward yesterday when the parliament sanctioned its approval for Rs 80,000 crore of PSU recap bonds. In an interview to CNBC-TV18, Dinabandhu Mohapatra, MD & CEO of Bank of India spoke at length about the same and gave his outlook for the future.

CNBC TV18 @moneycontrolcom

The bank recapitalisation took a giant step forward yesterday when the parliament sanctioned its approval for Rs 80,000 crore of public sector undertaking (PSU) recap bonds. In an interview to CNBC-TV18, Dinabandhu Mohapatra, MD & CEO of Bank of India spoke at length about the same and gave his outlook for the future.

Mohapatra said the government will give capital based on performance.

He further said that we have provision coverage of 65 percent on non-performing assets (NPAs).

Government to give capital with regards to provisions made on NPA, return ratios and growth, he added.

Talking about business, he said gross NPA will be below 12 percent for FY18.

Common equity tier 1 (CET1) and net NPA will be improved for Bank of India in the immediate future and will show a quick turnaround, said Mohapatra.

Watch accompanying video for more details.
First Published on Jan 5, 2018 11:20 am
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