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Monday, June 19, 2017

The dark corner in private banks’ earnings

The dark corner in private banks’ earnings
Private banks such as ICICI Bank, Axis Bank, Yes Bank, Karur Vysya Bank and IDFC Bank have been slow in recognizing bad loans, keeping themselves open to risks
Gross bad loans for these 17 lenders surged 75% and, together, they racked up 12% of the total bad loan stockpile as of March-end. In comparison, public sector banks’ outstanding gross bad loans rose 20%. Essentially, the current wave of bad loans came from private banks and not the beleaguered public sector. At the end of FY17, private banks accounted for 12% of the system’s gross bad loans, higher than the 9% share they had in March 2016.

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