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LATEST NEWS UPDATES | In five years, pvt banks see 450 per cent spike in bad loans -George Mathew

In five years, pvt banks see 450 per cent spike in bad loans -George Mathew

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published Published on May 21, 2018   modified Modified on May 21, 2018
-The Indian Express

Among private banks, ICICI Bank, whose MD and CEO Chanda Kochhar is facing allegations of conflict of interest while sanctioning loans to the Videocon Group, topped the NPA table with Rs 54,063 crore in bad  loans.

Mumbai:
Data over the last five years shows that private banks have been steadily accumulating bad loans, with a 450 per cent rise in gross Non-Performing Assets (NPAs) of these banks — from Rs 19,800 crore at the end of financial year 2013-2014 to Rs 109,076 crore at the end of March 2018.

What has contributed to this rise in NPAs of private banks is the RBI’s February 13 circular, which changed the rules governing the restructuring of stressed assets, besides the central bank’s tough stance against divergence of NPAs. “Some private banks were understating NPAs earlier; now they have to disclose them,” said a banking source.

Among private banks, ICICI Bank, whose MD and CEO Chanda Kochhar is facing allegations of conflict of interest while sanctioning loans to the Videocon Group, topped the NPA table with Rs 54,063 crore in bad  loans. That’s a 514 per cent jump in NPAs in five years — from Rs 10,506 crore at the end of financial year 2013-14 to Rs 54,063 crore at the end of March 2018.
 
Bad Loans
 
At 988 per cent, Axis Bank  registered the biggest jump in NPAs over the last five financial years — from Rs 3,146 crore at the end of 2013-14 to Rs 34,249 crore at the end of 2017-18. The RBI had penalised Axis Bank for under-reporting Rs 5,632 crore worth of stressed assets last year.

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The Indian Express, 21 May, 2018, http://indianexpress.com/article/business/banking-and-finance/in-five-years-pvt-banks-see-450-per-cent-spike-in-bad-loans-icici-videocon-deal-chanda-kochhar-5184749/


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