Union Bank of India is likely to see a good reaction in trade. The bank has reported their lowest slippage in the last 8 quarters. In an interview to CNBC-TV18, Rajkiran Rai G, MD & CEO of the bank spoke about the results and his outlook for the future.
On provisioning front, he said we would have had a loss because 1/3rd of the provisions have to be done in this quarter. Therefore, thought of coming out clear on provisioning because one more list of accounts referred under NCLT where we envisage provision of Rs 1,087 crore maximum.
He further said that the exposure to second list of NCLT is Rs 4,700 crore.
"We are not segregating between loan loss provision requirement and growth capital. Assuming a growth of 10 percent, we said we need a capital of Rs 3,500-4,000 crore during this year and we have all the necessary approvals and we are likely to hit the market to raise Rs 2,000 crore shortly," he added.
According to him, domestic net interest margin for FY18 should be at 2.25 percent.
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