Retail & MSME will be the growth driver sectors for company in future: Bank of Baroda

In an interview with CNBC-TV18, PS Jayakumar, MD & CEO of Bank of Baroda shared his views and outlook on what is in store for the banking sector in 2018.

The owners of the Pioneer Group have decided to sell their stake in Pioneer, the stake sale is not of significant amount, he said.

There is a 12-months window to see UTI MF listing. I cannot comment on behalf of UTI but I think logically there is a high probability of that happening in FY18-FY19, he added.

He expects gross slippages to peak out by Q4 of FY18 for the industry.

The overall non-performing assets (NPA) numbers must be rangebound at this point of time, said Jayakumar.

Speaking about credit growth and net interest margins (NIMs) he said that we have always given a guidance of 12-15 percent of credit growth for us, we stay with that. The overall trend of increasing NIMs should continue.

Expect Rs 1,100-1,200 crore of quarterly provisions in 2nd list of National Company Law Tribunal (NCLT) cases, he further mentioned.

Fairly committed to Indiafirst Life Insurance, Jayakumar said.

On retail and micro, small and medium enterprises (MSME), he said that the growth in MSME will be fairly strong going forward. These will be the corner stone of a growth as we go into the next year, he added.

For full interview, watch accompanying video...