Every 'torpedo' fired hit us: Yes. Stressed loan bank
Mumbai, November 3 () Yes. Bank, which reported an increase in NPAs in the September quarter, feels that its stressed loan situation could have been much better if it were not for the torpedoes that affected the sector's lender private.
These torpedoes that hit their ship include exposures to Café Café Day, Altico Capital, CG Power and Cox and Kings, said the bank's chief executive, Ravneet Gill.
Every torpedo that was fired hit us, he told a select group of reporters over the weekend.
He said that these accounts themselves led to a swelling of Rs 4,000 million from the investment grade book of less than Rs 31,000 million from Rs 29,000 million in the previous quarter.
Gill expressed confidence that the bank does not see any jump in this book in the future, but admitted that it was also maintaining a similar perspective previously.
You cannot anticipate such problems in which stress is suddenly created, he said.
The bank does not have a watch list of the assets that can be passed to the NPAs, Gill said, adding that the list of Rs 10,000 million that he had targeted shortly after taking over in March has ended with 7,000 million. asset rupees falling in the NPA.
For the quarter of September, the bank had reported gross non-productive assets at 7.39 percent versus 5.01 percent in June and 1.68 percent in the same period last year. He had reported increased stress despite a 7 percent contraction in the book, which Gill attributed to the capital conservation measures undertaken by the bank. AA RAM MKJ