Private sector lender Federal Bank's second quarter (July-September) earnings beat analysts' expectations on Monday as profit for the quarter grew by 31.1 percent year-on-year to Rs 263.7 crore. The growth was driven by higher net interest income and operating profit.
Sharing more details on the performance of Q2 and the outlook going forward Shyam Srinivasan, MD & CEO, Federal Bank said the bank saw growth across various sectors in the quarter gone by.
He said the credit growth was steady in last 4-5 quarters. A 20-25 percent loan growth in FY18 is achievable, he said. The loan book market share has crossed 1 percent of the industry, said Srinivasan.
Talking about NCLT cases, he said the bank doesn’t have significant exposure to the cases referred to NCLT by RBI. The bank was the first to recognize Videocon as a non-performing asset (NPA), said Srinivasan.
He further added the bank did not undertake any large-ticket exposure in corporate book.
For full interview, watch video
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