Federal Bank expects bad loans from Kerala to go up 20-30%, says MD & CEO

Credit from branches in significantly impacted areas stands at Rs 15 bn

Federal Bank expects bad loans from Kerala to go up 20-30 per cent, its Managing Director and Chief Executive Officer Shyam Srinivasan said on Tuesday in a call with analysts and investors on the probable impact of the Kerala floods on the south-based bank.

Shyam Srinivasan, managing director & chief executive, Federal Bank

Srinivasan said that barring five physically-damaged ones in certain areas, all its 593 branches in the state are now fully functional.
 

However, the management expects the slippages (loans turning bad) from the state to go up by