Business Standard

Gap between slippage and recovery has narrowed: City Union Bank CEO

The bank's share closed at Rs 179.05 a piece on BSE, down 4.7% from its previous close while the broader Sensex was down 1.46%

City Union Bank
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Manojit Saha Mumbai
Kumbakonam-based private sector lender, City Union Bank, has said slippages to the non-performing asset category have slowed down during the past two quarters, and are now tracking the pre-covid numbers. The lender added that the gap between slippage and recovery has also become thinner.
 
Speaking to Business Standard N Kamakodi, MD & CEO, City Union Bank, said recent media reports of high-risk loans were past issues and have been addressed. Media reports cited the Reserve Bank of India’s annual inspection report which was obtained through the Right to Information Act.
 
“These reports are for FY2017, FY2018 and FY2019.

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First Published: Aug 29 2022 | 8:17 PM IST

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