@KotakBankLtd Concall Highlights
@udaykotak says:
Moving to new normal world – last time spoken
The way virus is going & economy is going – now in a never normal world
Constant changing world
Saw surge in activity in the month of june
Hope to see COVID19 to peak out at Aug-Sept
There are some encouraging signs from Mumbai & Delhi
Economy will get back to 2019 runrate by Q2 2021-22
Moratorium 2.0 is at 9.65% of the book
Used surgical criteria for taking decisions on moratorium 2.0
Trying to find fundamentally viability of the customer to give out moratorium 2.0
Some accounts have flown into NPA
Lean more on distribution & mk rather than taking disproportionate B/S risk
Not succumbed to temptations of booking profits under treasury
Didn't book treasury profits to make the Q1FY21 earnings look good
It will come with pain to both bank and customers
Banks will need to make upfront provisions on restructuring standard accounts