It is the 8th consecutive quarter of net loss for UCO Bank, net interest income (NII) is shrinking rapidly.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank discussed about the same in details.
Slippages have gone down substantially, he said.
Once we start getting the capital infusion, we would also be increasing our advances and that would increase our net interest margins (NIMs) also, he added.
Capital requirement is to the tune of Rs 3,000 crore for FY18. Will need additional Rs 600-700 crore to make provisions on National Company Law Tribunal (NCLT) cases, said Takkar.
We also plan to raise some fund through additional tier-I bonds post infusion, he further mentioned.
The bank has exposure to nine accounts in old NCLT cases and to sixteen accounts in the new NCLT cases.
Current corporate book is at 55 percent and we plan to bring it down to below 50 percent and simultaneously we are going to increase our retail and SME segments at 12-13 percent going ahead, he added.
For full interview, watch accompanying video...
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