In an interview to CNBC-TV18, Kailash Baheti, CFO of Magma Fincorp spoke about the latest happenings in his company and sector.
Kailash Baheti of Magma Fincorp expects improvement in provision coverage ratio.
"Loan book for current quarter will remain flat but we expect the loan book to grow between 7 and 10 percent for the next year", Kailash Behati, CFO of Magma Fincorp told CNBC-TV18.
Speaking to CNBC-TV18 Gagan Banga, Vice Chairman & Managing Director at Indiabulls Housing Finance said that new business home loans are down by just 1 percent in terms of enquiries.
The rate sensitive auto sector has been one of the most battered down in the near-crisis situation of the financial market. Speaking to CNBC-TV18, Sanjay Chamria, VC and MD of Magma Fincorp reveals that they do see shrinkage in demand for auto sector loans on a macro-level.
V Lakshmi Narasimhan, CFO of Magma Fincorp, in an interview with CNBC-TV18’s Sonia Shenoy and Latha Venkatesh, said that the company intends to grow its loan disbursement by 50% in FY12. He also stated, "This year, we target to keep the net interest margins (NIMs) between 5-5.25%."
While there are no signs of the boom ending in the auto loan space, questions are arising as to when the higher cost of lending will start to play catch up. Sanjay Chamria, VC & MD of Magma Fincorp Ltd in an interview on CNBC-TV18 said the cost of borrowings has been going up right from August-September onwards.