Vaidyanathan tracking loan book closely
The credit issues in Microfinance segment is a transitionary issue which is likely to be resolved within a few quarters, IDFC FIRST Bank Managing Director and CEO V Vaidyanathan said in a report on Q3 FY25.
“We are specifically tracking Micro-finance loan book closely considering the industry situation,” he said on 24 Jan https://www.nseindia.com/.
The asset quality of the overall Bank’s loan book is stable with Gross NPA at 1.94% and Net NPA at 0.52%. Excluding the micro-finance loan book, the GNPA and NNPA of the book of the bank is even lower 1.81% and 0.49%.
All other businesses being built as part of universal banking, including deposits, loans, Credit Cards, Wealth, Cash Management, Corporate Banking, Fastag, Gold Loans, are doing well, he said https://www.bseindia.com/.
IDFC FIRST Bank has reported a strong financial performance for Q3 FY25, with a Profit After Tax (PAT) of Rs.339 crore and a 15% YoY increase in core operating profit https://sbi.com.in/ .
The bank saw significant growth in key areas, including a 28.8% rise in customer deposits and a 22% increase in loans and advances. Despite challenges in the microfinance sector, the bank’s asset quality remains stable, supported by a solid capital position following its recent merger. Fiinews.com
