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Last Updated : Aug 07, 2017 03:39 PM IST | Source: CNBC-TV18

Slippages in next 3 quarters likely at Rs 4,150cr: Syndicate Bank

Syndicate Bank posted a weak set of Q1 earnings. In an interview to CNBC-TV18, Melwyn Rego, MD & CEO of Syndicate Bank spoke about the results and his outlook for the company.

Syndicate Bank posted a weak set of Q1 earnings. In an interview to CNBC-TV18, Melwyn Rego, MD & CEO of Syndicate Bank spoke about the results and his outlook for the company.

Rego said loan book has not grown in Q1 of FY18.

He further said that slippages in the next three quarters are likely at Rs 4,150 crore.

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He expects FY18 gross non-performing asset (NPA) at 8.75 percent and net NPA below 5 percent by end of FY18.

Syndicate Bank have exposure to 11 out of 12 stressed accounts identified by the Reserve Bank of India (RBI), said Rego.

Watch accompanying video for more details.
First Published on Aug 7, 2017 03:39 pm
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