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India

Union Bank Of India Exec Says Credit Growth To Be In Range Of 9%-11% In FY20


Friday, 2 Aug 2019 

Aug 2 (Reuters) - Union Bank of India, MD&CEO,Rajkiran Rai says::SLIPPAGES IN Q1 WAS 30.9 BILLION RUPEES.STRESS IN AGRI SECTOR IS SLIGHTLY ELEVATED.GROSS NPA INCREASED SLIGHTLY AS RECOVERY WAS LOW.260 BILLION RUPEES WORTH ACCOUNTS IN BANKRUPTCY COURT.GROSS NPAS TO COME DOWN TO 12% BY FY20 END.CREDIT GROWTH TO BE IN RANGE OF 9-11% IN FY20.MAY LOOK AT A QIP IN Q3 OF 30 BILLION RUPEES.GUIDANCE OF NIMS IS 2.4% FOR FY20. 

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