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Analyst Meet / AGM
04-May-15
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Conference Call
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IDFC
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Loan growth to remain flat in H1FY2016, to continue with high provisioning for next two quarters
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IDFC conducted concall on 04 May 2015 to discuss financial results for the quarter ended March 2015. Vikram Limaye, MD & CEO, Sunil Kakar, Group Chief Financial Officer addressed the call:
Highlights:
- The company has posted a balance sheet growth of 16%, while the loan book declined 8% in FY2015. However, the loan fell mere 2% in FY2015, excluding the short-term loans extended in the telecom sector in Q4FY2015.
- Net interest income of the company declined 3% during FY2015, in line with the fall in loan book, while the healthy 32% growth in the non-interest income was boosted by higher amount of capital gains and asset management fees.
- Company has continued to build counter-cyclical provisions. It has stepped up overall provisions outstanding to 4.5% of loans at end March 2015 from 3.6% of loans a quarter ago.
- Company would continue to build higher provisions for next two quarters ahead of converting into a bank by end September 2015.
- The company is on track to covert itself into a bank on 01 October 2015. The banking operation would be launched with 20-25 branches in the rural and corporate segment.
- The company is holding the Liquidity Coverage Ratio (LCR) above the regulatory guidelines for banks.
- In line with the expectation, the restructured advance book of the bank increased sharply in Q4FY2015. Net restructured loans of the company jumped to 7.8% of loans at end March 2015 from 6.1% at end December 2014. GNPA ratio eased slightly to 0.65% at end March 2015.
- Securities receipts book of the company remained nearly flat at 0.31% of the loans book at end March 2015 from 0.3% at end December 2014.
- As per the company, there would be some slippages from the restructured advance book to the NPA in the coming quarters. Also, the company sees the tangible improvement in some of the sectors to be few quarters away.
- Company expects the loan book to be flat in H1 of FY2016.
- Treasury book of the company qualifying for SLR status has increased to Rs 17000-18000 crore at end March 2015 from around Rs 16000 crore at end December 2014 and Rs 13000 crore at end September 2015. The company is building the treasury book for meeting banks SLR requirement as well as on favorable interest rate view.
- The company would be deciding about the quantum of transfer of asset to Infrastructure Debt Fund (IDF), after the detailed guideline from the Reserve Bank of India.
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