Shivalik SFB MD sees gross NPAs falling by end of March

By Piyush Shukla

Shivalik Small Finance Bank (SFB) is aiming to little its gross non-performing assets ratio (GNPAs) to 2.5% and nett NPAs to beneath 1% by March extremity from 3.71% and 1.91% arsenic connected September end, respectively, the bank’s managing manager and main enforcement serviceman Suveer Kumar Gupta told FE. He added that the worst successful presumption of Covid-19 and lockdowns was down the SFB.

Shivalik SFB became the archetypal municipality co-operative slope to modulation to the tiny concern slope operation earlier this year. As connected March end, the lender’s full advances stood astatine Rs 804.9 crore, up 12% year-on-year, portion full deposits roseate 9.2% connected twelvemonth to Rs 1,244.5 crore. “The full concern size of the slope arsenic connected 31 March was astir astir Rs 2,000 crore…We person targeted to instrumentality this concern size of Rs 2,000 crores to 3 times of this size successful coming 4 years,” Gupta said.

The SFB is readying to unfastened 15 much branches successful agrarian parts of Uttar Pradesh successful the existent fiscal twelvemonth (FY22), Gupta said. “Once that is done, we volition determination connected to signifier 2 which volition incorporated opening of branches successful large parts of North-West India. Uttar Pradesh and Madhya Pradesh we are already present, and we are going to grow successful these states. Plus, we privation to adhd branches successful Uttarakhand, Haryana, Himachal Pradesh, Rajasthan and Delhi, truthful fundamentally we privation to screen the North-Western portion of the country.”

To further summation its reach, Shivalik Small Finance Bank is besides successful last stages of launching partnerships with IIFL Finance for golden loans and with Airtel Payments Bank wherein the lender’s microfinance customers tin deposit their indebtedness dues astatine Airtel Payments Bank outlets, Gupta said.