UCO Bank reported Q3 earnings and losses continue to widen. Asset quality also deteriorates. In an interview with CNBC-TV18, Ravi Krishan Takkar, MD and CEO of the bank spoke about the results and his outlook for the company.
We should see the reduction in fresh slippages. In Q3, the slippages were around Rs 3,500 crore against Rs 1,432 crore of Q2, he said.
Watchlist stands currently at Rs 1,900 crore versus Rs 3,600 crore in Q2, he added.
According to him, slippages and watchlist is expected to improve going forward.
Q4 slippages are expected to be well below Q3 level. Need to provide Rs 1,000 crore more on account of National Company Law Tribunal (NCLT) cases in Q4, said Takkar.
Speaking about qualified institutional placement (QIP), he mentioned that they are planning a QIP worth Rs 500-700 crore in Q4.
For full interview, watch accompanying video...
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