Entire exposure to HFCs, NBFCs among the lowest in the industry: Vishwavir Ahuja of RBL Bank

RBL Bank's exposure to Indiabulls Group is between 0.25 percent to 0.5 percent of its total loan book, said Vishwavir Ahuja, the managing director and CEO, in an interview to CNBC-TV18.

RBL Bank's stock price fell 14.19 percent, at Rs 282.10 per share on the BSE at 14:26 pm on October 1.

Nifty Bank dropped sharply by 2.37 percent post 1 pm and was trading at 28,437 points at the time of writing this report.

“There seems to be some malicious speculations going on as to perhaps tidings at the bank which are not good. Therefore, all I want to say is that nothing has materially changed from 3 months ago and the bank continues to be in good shape. We are growing, we are profitable,” Ahuja said.

“I and my colleagues are more than surprise to what is going on. We are not habituated to focus our attention on stock prices, stock markets. We are more focused on doing the right things for building the institution which we have been doing for last 9 years,” he added.

On exposure to Indiabulls

"It is approximately 0.25 percent or 0.3 percent. A significant portion of that is to the housing finance company (HFC), which is almost 125 percent covered by cash sitting in my bank, which I can adjust in two hours with permission of the company. My entire exposure to HFCs and NBFCs is among the lowest in the industry. I again clarify, there is absolutely no concern as far as this aspect is concerned."

Source: CNBC-TV18