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Indian Overseas Bank (IOB) had several quarters of very high non-performing loans (NPLs) and rising NPLs but the important part about the Q3 results was that asset quality improved and we saw a fall in the gross and the net non-performing assets (NPA). In an interview with CNBC-TV18, R Subramaniakumar, MD and CEO of IOB spoke about the results and his outlook for the company.
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In an interview to CNBC-TV18, R Subramaniakumar, MD & CEO of IOB said it is not the write-off; an appropriate term would be to make use of it as a set-off to the negatives and positives in our capital book.
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In an interview to CNBC-TV18, R Subramaniakumar, MD & CEO of Indian Overseas Bank (IOB) spoke about the turnaround plan and the latest happenings in the bank.
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The bank's slippages in the June quarters stood at Rs 5,330 crore and the restructured book at Rs 14,000 crore, says Atul Agarwal, ED, IOB.
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The bank‘s third quarter was largely impacted by the asset quality review (AQR), says R Sudhakar, AGM at CARE Ratings.
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BK Batra says IDBI Bank has adequate back up for any capital requirement as well as any additional provisioning that the bank may have to go in for in the fourth quarter.
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Dena Bank's exposure to discoms stands at around Rs 7000 crore of which Rs 3300 crore of debt has been restructured, says chairman and managing director Ashwani Kumar.
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Speaking to CNBC-TV18, R Koteeswaran, Managing Director and Chief Executive Officer, Indian Overseas Bank, says he is hopeful of reducing stressed assets in the coming quarters and has created a separate department to deal with the same.
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In an interview with CNBC-TV18‘s Latha Venkatesh, the bank‘s chairman M Narendra spoke about its financials, strategy going forward and how the bank is focused on bringing down its non-performing assets.
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The bank‘s net interest margin (NIM) on the domestic front has improved from 2.30 percent to more than 2.48 percent.
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M Narendra, CMD, Indian Overseas Bank expect a credit growth of 14% for FY14 and see reduction in rates by 25-50 basis points in case addtional capital is given to them.
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Indian Overseas Bank, whose net profit in January-March tumbled 89 percent on year on sharp spike in provision expects the non-performing assets to come down going forward on restructuring of loans.
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Indian Overseas Bank chairman M Narendra says, in an interview on CNBC-TV18, that the bank will lend more to the TNEB after the process of restructuring.
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Rising pile of non-performing assets coupled with low base of equity capital has cramped growth for state-owned Indian Overseas Bank. Not surprisingly, investors have been could-shouldering the stock for a while now. Over the last year, IOB shares shrank nearly 23% as against a rise of about 18% in the Bankex.
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Answering a query on slippages, M Narendra, chairman, IOB told CNBC-Tv18 that going forward our slippage will be moderated. “Overall, we will ensure that the slippage will be brought down to the minimum in this immediate quarter and next quarter,†he asserted.
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In an interview to CNBC-TV18, M Narendra, chairman of Indian Overseas Bank says, Tamil Nadu SEB account has been performing well. “They are servicing their account very well. There is no irregulatory whatsoever in the account,” he adds. He further says, exposure to Tamil Nadu SEB was not restructured.
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The Finance Ministry has given written assurance to Indian Overseas Bank (IOB) that its request for fresh capital infusion will be granted.
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In an interview to CNBC-TV18, M Narendra, chairman of Indian Overseas Bank says, the credit growth will be around 20-22% by the year-end. “After September, the growth rate in credit has been slightly lower because of the economic factors. The industry growth is 18%. We may be around 2% higher than that,” he adds.
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RK Bakshi, executive director, of Bank of Baroda and N Narendra, chairman of Indian Overseas Bank, in an interview with CNBC-TV18's Latha Venkatesh and Gautam Broker, spoke about the challenges the banking sector will have to face ahead.
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Chairman of Indian Overseas Bank M Narendra hints towards a 50 bps rise in the base rate. He also says, “On a conservative basis, we are aiming to maintain 3% plus margins in the first half of FY12.” Narendra further says that the bank expects a credit growth rate of a minimum of 25%.
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M Narendra, Chairman of Indian Overseas Bank, in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, spoke about the recent happenings in his company and the road ahead.
