Will look to improve recovery of stressed assets: Bank of Maharashtra

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.

We have targeted a credit growth of around 10 percent year-on-year (YoY) for FY17 but as of now it is negative by 8 percent, so as such we are not in need of that much capital, he said.

Will look to improve recovery of stressed assets, he added.

Q2 did not see any elevation in the non-performing assets (NPA) number as well as the ratios, both in absolute terms as well as in the ratio it has marginally come down by around 5 basis points (bps), said Marathe.

Speaking about National Company Law Tribunal (NCLT), he said that from the first list the bank had about 10 accounts amounting to Rs 4,200 crore and in the second list they had 12 accounts amounting to Rs 2,500 crore. So the bank’s total exposure to NCLT cases is at Rs 6,700 crore for 22 accounts.

He further mentioned that the bank will meet regulatory capital requirement gap with government’s support.

For full interview, watch accompanying video...