MD Mallya, outgoing CMD, Bank Of Baroda explains on CNBC-TV18 that there will be some more pain before the economy posts a comeback. He therefore advocates the need for optimism and patience for improvement and recovery in the overall situation.
MD Mallya, CMD, Bank of Baroda said the bank is not totally insulated from asset quality deterioration. He added that the economy is witnessing signs of improvement and the contraction of margins will not be substantial.
In four-and-a-half years, MD Mallya has dramatically upped Bank of Baroda's performance. But his biggest contribution will bear fruit after he retires in November.
State-owned Bank of Baroda (BoB) today said it expects credit and deposit growth to be around 18-19% in the current fiscal, notwithstanding a poor show so far due to subdued economic conditions.
MD Mallya, chairman and managing director, Bank of Baroda says, "Global NIMs have been around 2.73%. The guidance would be in the same range 2.7% to 2.75% in the second quarter or maybe the current fiscal is concerned."
CNBC-TV18‘s banking editor Latha Venkatesh, in this edition of Indianomics, speaks to former NDA power minister, Suresh Prabhu and MD Mallya, chairman, Bank of Baroda to try and understand if the plan to rescue the state electricity distribution companies is going to work.
The Reserve Bank of India (RBI) is scheduled to announce annual monetary policy for 2012-13 on April 17, 2012. Bankers expect the central bank to cut cash reserve ratio (CRR).
MD Mallya, CMD of Bank of Baroda says the Reserve Bank policy has been largely in-line with expectations.
Bad loans for public sector banks have grown at a record pace over the second quarter. SBI's gross NPAs jumped 22%, while Union Bank's loan defaults rose 37%; and that of Bank of India shot up by over 16%.
The Indian banking industry is having a tough run lately. After coming out with a mixed set of second quarter numbers, the industry was in for a rude shock from rating agency Moody's that cut its outlook for the Indian banking system.
In view of the dismal May industrial production data and a slowing inflation growth, yet an upward run in prices, should the RBI take a breather in its rate hike cycle? Dr.Shankar Acharya and M.D Mallya debate it out on Indianomics.
As advances lose steam with the rising interest rate scenario and the fixed deposit rates go up, city-based public sector lender Bank of Baroda (BoB) today said it will bring down its dependence on bulk deposits and will focus more on CASA deposits to shore up its funds.
Informed investor has always focused on the macros, but the rise in interest rates hit hardest for us. In a discussion with CNBC-TV18, MD Mallya, CMD of Bank of Baroda; Robert Prior-Wandesforde of Credit Suisse and industry veteran AK Purwar, share their views on where the interest rates head and how would that impacts our daily costs and economy.
To get more colour on what bankers are worried about and what economist fear for the economy, CNBC-TV18’s Latha Venkatesh spoke to MD Mallya, chairman and managing director, Bank of Baroda and Samiran Chakrabarty, chief economist, head of research, Standard Chartered Bank.
State-run Bank of Baroda reported a jump of 42.8% at Rs 1,294 for quarter-ended March 2011 compared to Rs 906 for same period last year. He says, net interest margins may see further 5-10 bps impact. “I think NIM of around 3.6% is still a good margin to maintain,” he adds.
At the pre-credit policy meeting, bankers have reiterated their request to extend the deadline for restructuring microfinance loans to June of this year. CNBC-TV18’s Gopika Gopakumar reports that ahead of the annul credit policy next month, the RBI governor held a meeting with bankers today.
MD Mallya, CMD of Bank of Baroda, in an interview with CNBC-TV18’s Latha Venkatesh and Anuj Singh, have his views on the Bankex and how is it expected to perform going ahead.
Corporation Bank and Bank of Baroda today said they are expecting significant amount of fund from the government's Rs 6,000-crore budgeted capital infusion plan for weak public sector banks for next fiscal, to shore up their Tier I capital
CNBC-TV18's Gopika Gopakumar caught with MD Mallya, chairman and managing director of BoB, to understand how the bank is looking at the fourth quarter.