In an interview to CNBC-TV18, VG Mathew, MD & CEO, South Indian Bank spoke about the results and his outlook for the company and the fineprint of their Q2 earnings.
In an interview to CNBC-TV18, VG Mathew, MD & CEO of South Indian Bank spoke about the results and his outlook for the company.
Speaking to CNBC-TV18, VG Mathew, MD & CEO said that gains in treasury income aided other income. Slippages in the third quarter were at Rs 196 crore Y-o-Y.
In an interview to CNBC-TV18, VG Mathew, MD & CEO of South Indian Bank spoke about the results and his outlook for the company.
Speaking to CNBC-TV18 VG Mathew of MD & CEO Of South Indian Bank said that slippages in June quarter were from the retail side.
In an interview to CNBC-TV18 after reporting the fourth quarter results, VG Mathew, MD & CEO of South Indian Bank said, slippages are mainly from large corporate book, which have gradually been substantially cleaned up.
Speaking to CNBC-TV18, VG Mathew, MD and CEO of South India Bank said that the bank is on track to achieve its net interest margin guidance of 2.5-2.8 percent.
The bank's gross NPA rose 25 percent quarter-on-quarter. Of this, Rs 119 crore of fresh NPA is from one large restructured pharma account, says VG Mathew, MD and CEO of South Indian Bank
In an interview with CNBC-TV18's Sonia Shenoy and Anuj Singhal, VG Mathew, MD and CEO, South Indian Bank, discussed the bank‘s dismal fourth quarter earnings, explaining that one-time employee costs and an increase in provisioning weighed on profit.
South Indian Bank's net interest income of the private sector lender, the difference between interest earned and interest expended, fell 8.7 percent to Rs 320 crore in the quarter ended December 2014 from Rs 350.5 crore in the year-ago period.
MD & CEO VA Joseph said the bank shifted its focus from corporate lending to retail lending, which led to slow pick-up in advances.
In an interview to CNBC-TV18, VA Joseph, MD & CEO, South Indian Bank spoke about their loan portfolio and impacts of rising gold prices.
According to V A Joseph, MD & CEO of the bank, the lender made an one-time loan provision of Rs 60 crore against a particular loan account with an exposure of Rs 150 crore. In the rest of the year, the lender is expected to grow better.
South Indian Bank, which reported net interest margin of 3.21 percent in quarter ended March is determined maintain it at 3 percent in FY14.
VA Joseph, managing director and chief executive officer of South Indian Bank says, this year, the bank is expecting between 20-25% credit growth. "Last year, it was 23.47%, but we hope to maintain this year around 20-25%," he adds.
Dr VA Joseph, managing director and chief executive of South Indian Bank tells CNBC-TV18 that they aim to grow deposits and advances by 25% in the current year.