Breaking News :MAHABANK
Central Committee on banking services and BBB have accepted recommendation of NITI Aayog for privatisation of MAHABANK. VRS is being readied to reduce staff strength by 50% ( for those having 20 year service). Sh Narendra Modi is said to be taking personal interest to ensure that privatisation is done in FY21. *Internal Valuation puts Fair Value at Rs 33* as bank has substantial real estate as well. It is learnt that some parties have already shown interest
*Perhaps only bank which has potential to be 2x in few months*
MAHABANK on CNBC-TV18
Improvement in growth is due to better quality of the Loan book , standard Advance has increased by Rs 8000cr , MSME and Retail was 30% growth during the quarter.
MSME growth was 30%. guidance of 10 to 12% growth for this year , msmse above 20% growth expected corporate growth expected to grow at 5 to 8%.
2) NIM is around of 2.43% because of the low investment , these year we are planning for more advance NIM Target of 2.5 to 2.6% .
3) Slippage were low and there was some interest reveral which has impacted NIM
4) Slippage were low on QoQ and YoY basis . We brought down 800 bps in Gross NPA supported by recovery upgrade and write-off , and Target is to reduce Gross NPA and Net NPA by 200 to 300 bps in this fiscal .