PTC India Financial Services expects 15% loan growth in FY20, says CEO Pawan Singh
- Pawan Singh said PTC India would like to maintain gross and net NPA flat or marginal improve for FY20
- The company is looking at loan growth of 15 percent in FY20, said Singh.
The higher cost of funds has impacted PTC India Financial Services’ earnings in the fourth quarter as non-banking financial companies (NBFC) continue to face liquidity challenges, said Pawan Singh, managing director and CEO.
“We are focusing largely on sustainable finance and renewable sector and there is an ample growth opportunity which is happening and will happen in the current year also,” he added. According to him, tightening market gives ample room to expand and do business.
On the interest margins front, Singh said, “As far as the issue of the shrinking of our interest margin is concerned, it’s primarily because the thermal assets which we had on our book, 2 particular assets, where we have stopped recognizing the interest income. The impact of that is almost Rs 13 crore this quarter. Its onetime impact which has happened which has probably affected our net interest income.”
Talking about business, he said, “Our net interest margin (NIM) stands at 2.62 percent for FY19 and the asset book has grown by roughly about 8 percent but we also had some non-performing assets (NPAs) which we had written off technically and if we account for that it would have been close to 11 percent.”
He further said that PTC India would like to maintain gross and net NPA flat or marginal improve for FY20. The company is looking at loan growth of 15 percent in FY20, said Singh.
Source: cnbctv18
