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Credit growth unlikely to be impacted by interest rate upcycle: Bank CMDs
Photo : ET Now Bureau
KEY HIGHLIGHTS
- EXPECT 8% -10% CREDIT GROWTH FOR BANK OF INDIA IN FY23: BOI MD
- DO NOT EXPECT IMMEDIATE TRANSMISSION TO MCLR-LINKED INTEREST RATES IF RBI HIKES REPO: MDs
- AIM TO OPEN 200 BRANCHES PAN INDIA TO TAP OPPORTUNITIES IN RETAIL GROWTH: UCO BANK MD
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On the credit growth he said that the interest rates alone do not determine credit growth and he does not see major impact in next few months on the bank’s credit growth. With the COVID-19 slowing down, he expects private consumption to get a boost.
On the interest rate upcycle, Prasad said that 37 percent lending rates are linked to repo in which rate hike will be passed on immediately. MCLR-linked lending rates will not to be increased immediately with next rate hike by RBI.
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Uco Bank aims to bring gross NPAs to 6 percent by March, 2023, from current 7 percent and net NPAs to 2 percent by March, 2023, from current 2.79 percent.
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