Seeing good credit growth in vehicle finance: IndusInd Bank

作者:Christine 时间:2018-01-14 01:30:03 標籤: 分類:

IndusInd Bank has announced a mixed set of numbers for the third quarter. While profit met estimates, net interest income (NII) was a miss. The bank has also reported a marginal dip in its asset quality. CNBC-TV18’s Ritu Singh caught up with Romesh Sobti, MD & CEO of IndusInd Bank and asked him about the spike in bad assets, where the stress has come from and his outlook on that front going forward.

Gross non-performing assets (NPAs) went up by 8 basis points (bps), gross slippages fell from 1.75 percent to 1.3 percent, so the book improved and the credit cost also fell from 18 bps to 15 bps, so there was no chunky account. NPAs spread across consumer finance, vehicle finance side, SMEs and so on, he said.

Credit cost target for this year was 60 bps and we are well on target. We have not received a preliminary report on divergence from Reserve Bank of India (RBI) yet but any divergence will be in addition to the credit cost guidance of 60 bps for 2017, he added.

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IndusInd Bank Had exposure to 8 accounts out of the forty referred to the National Company Law Tribunal (NCLT) of which 6 were already NPA with us and for the other 2 we have made provisions in Q1 and Q2. The additional provisions that we had to make was about Rs 30-35 crore, said Sobti.

Romesh Sobti
Romesh Sobti
MD & CEO|IndusInd Bank

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Loan growth should remain in mid-20s: Romesh Sobti, IndusInd Bank

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We are heading towards resolutions for some accounts, especially the steel ones, he further mentioned.

Speaking about credit growth, he said that we are seeing very good growth, we are coming back into the vehicle finance sector that is languishing at 15-16 percent, disbursements this quarter on vehicle finance grew by 34 percent, commercial vehicles 39 percent and the book is now started growing in the 20s.

We are seeing good demand pull on the working capital side from corporates, Sobti added.

Bank’s microfinance book accounts for Rs 3,000 crore for the bank at the moment.

The merger with Bharat Financial is going through the process of regulatory approvals. We expect this process to take till the middle of the calendar year 2018, he said.

For full interview, watch accompanying video...

本文來源:http://www.moneycontrol.com/news/business/earnings/seeing-good-credit-growth-in-vehicle-finance-indusind-bank-2481693.html

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