homevideos Newsearnings NewsKarnataka Bank realigned loan book towards retail & mid corporate, says MD & CEO Mahabaleshwara
Karnataka Bank realigned loan book towards retail & mid corporate, says MD & CEO Mahabaleshwara
Karnataka Bank made an attempt to realign loan books towards retail and mid-corporate, Mahabaleshwara MS, managing director and chief executive officer, told CNBC-TV18 on Thursday.
Karnataka Bank made an attempt to realign loan books towards retail and mid-corporate, Mahabaleshwara MS, managing director and chief executive officer, told CNBC-TV18 on Thursday.
The bank reported its weakest ever set of earnings for the March-ended quarter. The loan book has declined sharply and asset quality has deteriorated with gross non-performing asset (NPA) at the highest level since FY18.
“During the adverse conditions of COVID-19, we made an attempt to realign our loan book. We focused more on retail and mid-corporate and shed some flab in the large advances loan book. In fact, our retail and mid-corporate went up by 6 percent and 7 percent respectively,” Mahabaleshwara said.
Speaking further on focus areas, Mahabaleshwara said, “Therefore, as we focused more on retail and mid-corporate, the retail book now consists of 53 percent of loan book as against 45 percent last year and mid-corporate improved to 34 percent from last year’s 29 percent and large corporate went down to 13 percent from last year’s 26 percent.”
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(Edited by : Ajay Vaishnav)
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