Money & Banking

Net NPAs likely to come down to 6 per cent in Q2, Q3: Union Bank MD

PTI Ahmedabad | Updated on August 17, 2019 Published on August 17, 2019

Rajkiran Rai G, MD & CEO, Union Bank of India   -  BL

With the net Non Performing Assets (NPAs) coming down, Union Bank of India is looking at good growth from this year, its MD and CEO Rajkiran Rai G said here on Saturday.

“We expect good growth from this year. Basically, huge NPAs from 2014 onwards caused a lot of problem to recognise and resolve. But the Government helped. Our balance sheet is much cleaner,” he said.

“Our NPAs have been recognised, and our net NPA is at 7 per cent. In second and third quarter, it will come down to 6 per cent. So we expect good growth from this year,” he said.

Rai was here for a two-day meeting of branch heads.

The Finance Ministry has asked public sector banks to undertake a month-long consultation process with officers starting from branch levels to seek suggestions for achieving $5 trillion economy in five years.

Published on August 17, 2019
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