RK Dubey, CMD of Canara Bank is hopeful of the net interest margins improving in the March quarter to 2.3-2.4 percent from the current 2.2 percent
RK Dubey, CMD, Canara Bank says there has been good credit growth across the board. Loans to vehicles recorded more than 45 percent growth, while housing witnessed more than 50 percent growth. White goods segment too saw a good offtake.
Restructuring of assets led to rise in slippages, which led to increase in the non performing assets (NPAs), says RK Dubey of Canara Bank. However, Dubey is optimistic on better performance.
In an interview to CNBC-TV18, RK Dubey, CMD, Canara Bank explains reasons for base rate cut of 30 bps it annouced yesterday.
A proposed demerger of Deccan Chronicle Holdings Ltd publications division isn't going as per plan. After a forensic audit conducted by Canara Bank revealed glaring financial irregularities lenders are now likely to oppose the demerger, reports CNBC-TV18's Appaji Reddem and Animesh Das.
RK Dubey, Chairman of Canara Bank told CNBC-TV18 that Basel III norms will not have major impact on the business. “If there is a major impact, we are not able to envisage that, he said. Instead he feels that the company would absorb the impact by increasing business.
Public sector lender Canara Bank's totaled slippages in three quarters was Rs 4,733 crore. It was Rs 1,921 crore last quarter and Rs 1,497 crore in first quarter. Third quarter added slippage was Rs 1,314 crore, due to which Canara Bank's third quarter net profit dropped 19 percent year-on-year to Rs 710.5 crore.