Expect to break-even by Q4FY18: Syndicate Bank

In an interview with CNBC-TV18, Melwyn Rego, MD & CEO of Syndicate Bank spoke about the results and his outlook for the company.

Talking about lowering slippages in coming quarters he said, "We have increased our advances by about 12 percent and most of this increase has come from the retail, agriculture and micro small and medium enterprises (MSME) sector. In pure retail credit, we have grown by 12 percent on an annualised basis, in agriculture by 16 percent and MSME by 20 percent. So, overall, our retail, agriculture and MSME (RAM) portfolio has gone up by 12 percent."

"The whole purpose is that we reduce the concentration risk and have capital light assets," he added further.

He also said, "In Q4, we expect to definitely break even and in Q1 next year we would be in a profit. In Q4 there are marginal chances of us being in the black. But when you mentioned about the increase in NPAs, frankly if you exclude one telecom account, the NPAs have remained flat."

For full interview, watch accompanying videos...