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In an interview to CNBC-TV18, Ashutosh Khajuria, ED of Federal Bank shared his views and readings about banning letters of undertakings (LoUs).
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Federal Bank will pick up 26 percent stake in Equirus Capital in a bid to help them broaden their product offering to corporate and SME clients. In an interview with CNBC-TV18, Shyam Srinivasan, MD & CEO of Federal Bank spoke about the latest happenings in his company and sector.
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Federal Bank has bought 26 percent stake in Equirus Capital, in a bid to broaden their product offerings to corporate & small and medium enterprise (SME) clients. In an interview to CNBC-TV18, Ajay Garg, MD of Equirus Capital spoke about the latest happenings in the company.
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In an interview to CNBC-TV18, Shyam Srinivasan, MD & CEO, Federal Bank spoke about the Q3 results and his outlook for the company.
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The loan book market share has crossed 1 percent of the industry, said Shyam Srinivasan, MD & CEO, Federal Bank.
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IDBI Federal Insurance has turned positive now for three years and is building scale, said Shyam Srinivasan, MD & CEO, Federal Bank.
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The bank will maintain equal share of book across its three segments that is corporate, retail and small & medium enterprises (SMEs), said Shyam Srinivasan, MD & CEO, Federal Bank.
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Speaking to CNBC-TV18 Shyam Srinivasan, Managing Director & Chief Executive Officer, Federal Bank said that the quarter was a good quarter in which they saw 32 percent credit growth on a year on year basis.
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Going forward there will be good availability of liquidity and digitisation of the banking sector will lead to behavioral and client changes, says Shyam Srinivasan, MD and CEO of Federal Bank.
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The bank reported a 18.3 percent rise in net profit to Rs 167 crore in the first quarter while the gross non-performing assets (NPA) grew to 2.92 percent as against 2.84 percent quarter-on-quarter.
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Federal Bank's major challenge has been its restructured book. But it has come down to Rs 1500 crore in the fourth quarter of FY16 from Rs 2300 crore.
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Speaking to CNBC-TV18, Shyam Srinivasan, MD & CEO of the bank says that internal changes and better management helped in recognizing stressed assets, especially in the corporate sector.
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In an interview to CNBC-TV18, Shyam Srinivasan, managing director and chief executive officer, Federal Bank says the bank may not be able to cut rates any further, but says other banks may be able to cut base rates only around the next policy.
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Former chairman of State Bank of India AK Purwar says even larger banks will start feeling the heat and pinch of this, not just midcap and small banks. In a neck and neck competition, he says: “It will become a question of survival of the fittest.â€
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Much of the slippages during the quarter have come in the corporate and SME loan accounts, says Shyam Srinivasan, MD & CEO of Federal Bank
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How are small and payment banks going to affect the business of existing small banks? Palaniappan Manickam, CFO, Lakshmi Vilas Bank and Ashvin Parekh, Managing Partner At Ashvin Parekh Advisory Services discuss.
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The bank has cut its base rate from 10.15 percent to 9.95 percent effective October 5, 2015
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Shyam Srinivasan MD & CEO, Federal Bank very excited about the launch of selfie-account by the bank, which would be a convenient method for banking and urges customers to avail the facility.
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In an interview with CNBC-TV18, Shyam Srinivasan, MD & CEO of Federal Bank said the Bank's NPAs increased due to a large metal account default and treasury provisions.
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Shyam Srinivasan, MD and CEO, Federal Bank, is not alarmed on a full-year basis that margins will get impacted as long as the cost of funds keep going down.
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Federal Bank's net interest margin for FY15 was 3.27 percent, within the guidance range of 3.23-3.30. Shyam Srinivasan, MD & CEO of Federal Bank, says the goal is to improve on this figure.
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SBI chairman Arundhati Bhattacharya says increasing the amount of home loans for PSL is a positive step. According to her, overall asset quality pressure may ease in near-term.
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Federal Bank's other income for Q3 jumped by 40 percent to Rs 220 crore against Rs 156.2 crore, Y-o-Y.
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The commercial private sector lender expects net interest margins in the range of 3.2-3.3 percent for Q3.
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Asset quality of Federal Bank was stable during the quarter with the gross non-performing assets (NPA) falling to 2.1 percent from 2.22 percent Q-o-Q and 3.39 percent Y-o-Y.
