Bharat Financial Inclusion had a very healthy third quarter as return ratios are back to being the best in the industry while robust growth in disbursements drives loan growth. Asset quality too improves substantially. In an interview with CNBC-TV18, MR Rao, MD & CEO of Bharat Financial Inclusion spoke about the results and his outlook for the company.
Expect a 5-8 percent gold loan book growth in second half of FY18, said VP Nandakumar, MD & CEO, Manappuram General Finance
Bharat Financial Inclusion has written off Rs 470 crore of nonperforming assets (NPA) this year. CNBC-TV18's Abhishek Kothari caught up with MR Rao, MD & CEO of the company and asked him about how much of this amount they hope to recover.
IndusInd Bank on Saturday confirmed its acquisition of microfinance institution Bharat Financial Inclusion after over a month of exclusive merger arrangement. CNBC-TV18's Kevin Lee caught up with Bharat Financial's MD & CEO, MR Rao.
The agreement provides for a mutually agreed exclusivity period for due diligence and discussions to evaluate a potential strategic combination between the two companies.
In an interview to CNBC-TV18, Ashish Damani, CFO of Bharat Financial Inclusion spoke about the results and gave his outlook for the company.
All parts of balancesheet on the loan side have done well in the first quarter, said Romesh Sobti, MD & CEO, IndusInd Bank.
Maharashtra, Punjab and Uttar Pradesh (UP) have already given much more massive cuts. Now reports suggest that Karnataka has waived farmer loans worth Rs 8,167 crore.
After Maharashtra and Uttar Pradesh, Punjab waives off loans. In an interview to CNBC-TV18, MR Rao, MD & CEO of Bharat Financial Inclusion spoke about the share of loans in UP, Maharashtra and Punjab.
In an interview to CNBC-TV18, Romesh Sobti, MD & CEO of IndusInd Bank shared his expectations for FY18.
In an interview to CNBC-TV18, MR Rao, CEO & MD of Bharat Financial Inclusion spoke about the results and his outlook for the company.
Bharat Financial Inclusion on Monday said that 4.5 percent of its gross loan portfolio is under risk of turning into bad loan in the on-going fourth quarter. In a concall, the management said that portfolio with more than 8 weeks overdue was at Rs 383 crore.
Speaking to CNBC-TV18, Uday Kotak said that the world could see a mega trend which is protectionism and in changing global narrative there will be some slowdown in trade.
Speaking to CNBC-TV18, Ashish Damani, Chief Financial Officer at Bharat Financial Inclusion, said the microfinance company is working on a cashless model.
Speaking to CNBC-TV18 PH Ravikumar, Non-exec Chairman, Bharat Financial said that they are perhaps the only sub-20 percent charging rural finance MFI.
For the first two weeks after the cash ban the collections were down by 50 percent, says V Vaidyanathan, Executive Chairman of Capital First.
The company is not worried over formation of SIT for MFIs because they have always adhered to the RBI guidelines, said Ashish Damani, CFO, Bharat Financial Inclusion.
In an interview with CNBC-TV18 Deepak Kesarkar, Minister of State for Home, Maharashtra said that there have been several complaints from districts across the state regarding harassment of women by MFIs.
The government is unlikely to go for a farm loan waiver this time around, says Parag Jariwala of Religare Capital markets. Earlier waivers had more to do with lack of funds due to crops getting impacted by drought. However, the current cash crunch from demonetisation might soon get resolved so there is not much case for a waiver, Jariwala notes.
Rao says Bharat Financial will disburse an additional Rs 8,200 crore in the second half of current fiscal.
The company successfully raised Rs750 crore via a Qualified institutional placement (QIP), allocation shares at Rs 770 per share. It allocated 65 percent shares to existing investors giving the rest to new buyers.
Raj‘s judicial custody has nothing to do with Bharat Financial, says PH Ravikumar, non-executive chairman of the company. The resignation is his personal decision, he adds.
Nidesh Jain of Investec Capital Services spoke about the reverse merger among other things. He said Bajaj Finance & Bajaj Finserv are big beneficiaries among NBFCs.
In addition to Bharat Financial's Non-executive Chairman, Digant Haria of Antique Broking also spoke and he said the size of the company will matter when an NBFC wants to become a bank.
In an interview with CNBC-TV18, MR Rao, MD and CEO of the company said that loan repayments have been strong, with or without monsoon and proves to be no major issue for the company.