Canara Bank will receive commercial bids for their stake in Can Fin Homes today. In an interview to CNBC-TV18, PV Bharathi, Executive Director of Canara Bank spoke at length about the bid.
In an interview with CNBC-TV18, Rakesh Sharma, MD & CEO of Canara Bank spoke about the results and his outlook for the company.
Canara Bank has announced a qualified institutional placement (QIP) worth Rs 3,500 crore. In an interview to CNBC-TV18, PV Bharathi, ED of Canara Bank spoke at length about the same.
Speaking for the first time after floating RFP or request for proposal for appointment of investment bankers, Canara Bank MD, Rakesh Sharma said that the bank is looking at monetisation of non-core assets as a lever to improve profitability.
In an interview to CNBC-TV18, Rakesh Sharma, MD & CEO of Canara Bank spoke about the mega recapitalisation plan.
In an interview to CNBC-TV18, Rakesh Sharma, MD & CEO of Canara Bank spoke about the results and gave his outlook for the bank.
Canara Bank is planning to allot up to Rs Rs 1,124 crore at Rs 207 per share via rights issue. Sharing details of the issue with CNBC-TV18 Managing Director & CEO Rakesh Sharma said roughly Rs 745 crore of this will be from the government and balance from other shareholders.
Bankers have maintained a positive stance after the roll-out of the demonetisation scheme. Rakesh Sharma, MD & CEO of Canara Bank concurs with the optimism and says that the bank is not facing issues since the Reserve Bank of India (RBI) formed the task force to manage the chaotic situation.
Worst seems to be over for Canara Bank in terms of stress on books and profitability will be better during the second half of the year, says MD & CEO Rakesh Sharma.
Slippages during the first quarter were Rs 3,878 crore, of which Rs 648 crore was mainly in existing accounts, said Canara Bank Managing Director & CEO Rakesh Sharma.
Most of the NPAs have been recognized already and no surprises are expected in FY17 as far as stressed assets are concerned, says TN Manoharan, Chairman of Canara Bank.
The bank has lent close to Rs 2000 crore to the infra company.
The bank has a total exposure of Rs 23,000 crore to this sector, of which loans worth Rs 12,000 crore are under the Fiscal Responsibility and Budget Management (FRBM) scheme, says Rakesh Sharma, Managing Director and CEO, Canara Bank.
Canara Bank's asset quality has bottomed out and slippages improved to Rs 4,000 crore in the first half this fiscal, compared to Rs 5,000 crore last year, CMD Rakesh Sharma told CNBC-TV18.
This is the third base rate cut this week with HDFC Bank paring rates to 9.35 percent effective Tuesday and Canara Bank trimmed rates to 9.9 percent effective Thursday.
Saswata Guha, Director – Financial Institutions, Fitch Ratings (India) told CNBC-TV18 that despite injection of capital by the government, PNB‘s balance sheet has inadequate capital to meet uncertain risks.
In an interview with CNBC-TV18, Saswata Guha, Director, Fitch Ratings said low asset quality and insufficient capital are the main reasons for slowdown in loan growth.
In an interview with CNBC-TV18, PS Rawat, ED, Additional Charge MD & CEO, Canara Bank, talks about fourth quarter earnings.
C Ilango, MD, Can Fin Homes says that coompany's rights issue that will take care of its funding requirements till 2017 will open in February with an issue size of Rs 250-300 crore.
BK Batra, DMD of IDBI Bank says the timing seems right to monetize a part or its entire stake in CARE. He believes the bank can get between Rs 600 crore and Rs 700 crore for its entire shareholding.
CARE Ratings looks to strengthen its presence in the SME sector by opening additional 30-40 SME outlets, says company MD and CEO DR Dogra.
Going ahead, C Ilango, MD, Can Fin Homes expects company‘s Net Interest Income to increase and net interest margin to improve. In addition, housing company anticipates its new branches to breakeven in 8-9 months, he adds.
For every downgrade there have been 1.25 upgrades in Q2FY15, says DR Dogra, MD & CEO of Care Ratings
RK Dubey, CMD of Canara Bank is hopeful of the net interest margins improving in the March quarter to 2.3-2.4 percent from the current 2.2 percent
Malay Mukherjee, MD & CEO, IFCI says NPA norms for the company, which is a non-banking financial company, are different – 180 days versus 90 days for banks. The company has an exposure to Ratnagiri Gas, which amounts to Rs 400 crore.
