FY18 loan growth seen at over 10%: Punjab National Bank

In an interview with CNBC-TV18, Sunil Mehta of Punjab National Bank discussed the company's Q3 performance.

Write-offs that the bank has done in the current quarter is roughly around Rs 2,100 crore and recoveries are at Rs 1,500 crore, he said.

Speaking about loan book growth, he mentioned that domestically we have grown by 20 percent year-on-year basis and globally we have grown by 17 percent.

On National Company Law Tribunal (NCLT) he said that for the first list of 11 accounts, the bank has the exposure of Rs 11,500 crore. We are required to take an incremental provision of roughly Rs 1,100 crore out of which we have provided Rs 850 crore and we will have to provide the rest of the amount during the current quarter, he added.

On loan book growth, we said that we will be growing by 10 percent and this time we have far exceeded it but we still think that we will be able to grow more than 10 percent during the current quarter itself, said Mehta.

For full interview, watch accompanying video...