Punjab National Bank (PNB) Q1 earnings are in line with expectations. Loan growth and core income however remains weak.
In an interview to CNBC-TV18, KV Brahmaji Rao, ED of Punjab National Bank spoke about the results and his outlook for the bank.
Slippages should be contained going forward, he said.
Non-performing assets (NPAs) outstanding for March 2018 would be less than March 2016 and major recoveries will happen through the resolution of big accounts, he added.
Insolvency and bankruptcy code (IBC) is a strong medicine. PNB is having exposure to nine accounts out of twelve stressed accounts sent under IBC. All the accounts are referred to National Company Law Tribunal (NCLT) and hopefully the resolution will happen from this quarter to March quarter, said Rao.
Speaking about capital raising he said, we have board approvals for raising Rs 3,000 crore. We have raised Rs 1,500 crore last week and we will raise another Rs 1,500 crore probably within 10-15 days.
For 2019, we require some capital probably about another Rs 3,000 crore but we are not in hurry. Whenever required, we will go for that, he further mentioned.
For full interview, watch accompanying video...
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