In an interview to CNBC-TV18, Shyam Srinivasan, MD & CEO, Federal Bank spoke about the Q3 results and his outlook for the company.
In an interview with CNBC-TV18, Shyam Srinivasan, MD & CEO, Federal Bank spoke about the Q3 results and his outlook for the company.
Srinivasan said that one-off education loan slipped in Q3 due to political decisions. However, not alarmed due to the slippage rate seen in the quarter, he said.
He further said that the bank saw the best operating performance in a single quarter, in Q3. Ex-trading gains, operating profit growth is at 34 percent year-on-year (YoY).
Credit growth is north of 20 percent and I expect the trend to continue for FY18, he added.
We expect net interest margin (NIM) to remain in the 3.25-3.30% range, said Srinivasan.
We also expect slippages to be between Rs 350 and Rs 400 crore over the next few quarters.Watch accompanying video for more details.