Bank of India‘s (BOI) Q3 earnings was a disappointment because of the steep rise we saw in the non-performing assets (NPAs) as well as slippages but today one of the brokerages pointed out that there is angel in the detail that some of the bad loans could get written back. In an interview with CNBC-TV18, Dinabandhu Mohapatra, Managing Director and CEO of Bank of India spoke about the results and his outlook for the company.
Net slippage is more or less in line with the last two quarters. We are very much hopeful that we will reduce net NPA to around 3 percent before March 2018, he said.
One telecom and one steel accounts are expected to be upgraded in Q4, he added.
On Reserve Bank of India’s (RBI) move on restructured loans, he mentioned that Bank of India will be benefited with this move.
For full interview, watch accompanying video…