Indian Bank reported a net loss in the quarter ended March 31 due to higher provisions but loan growth was higher than estimated, said Padmaja Chunduru, managing director and chief executive officer. Retail, agriculture and micro, small and medium enterprises (MSMEs) segment posted healthy growth in Q4 of FY19, added Chunduru in an interview to CNBCTV18.
Indian Bank on Tuesday reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, compared to a net profit of Rs 131.98 crore a year ago.
Chunduru said the bank has exposure to non-banking financial companies (NBFCs) in general and to Indiabulls Housing Finance and Dewan Housing Finance Corporation (DHFL). "However, both these companies are standard and we are getting a lot of information on the way forward for them. So as of now we do not see any strong concern.”
“We have plotted the repayments that are due in the next year and the sources of those repayments also. So both Indiabulls and DHFL have been paying on time and we do not expect that this would be a major issue going forward once liquidity concerns are settled for NBFCs,” she added.
15/05/19 Latha Venkatesh/Surabhi Upadhyay/CNBC TV18
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Indian Bank on Tuesday reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, compared to a net profit of Rs 131.98 crore a year ago.
Chunduru said the bank has exposure to non-banking financial companies (NBFCs) in general and to Indiabulls Housing Finance and Dewan Housing Finance Corporation (DHFL). "However, both these companies are standard and we are getting a lot of information on the way forward for them. So as of now we do not see any strong concern.”
“We have plotted the repayments that are due in the next year and the sources of those repayments also. So both Indiabulls and DHFL have been paying on time and we do not expect that this would be a major issue going forward once liquidity concerns are settled for NBFCs,” she added.
15/05/19 Latha Venkatesh/Surabhi Upadhyay/CNBC TV18
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