Sorry missed all exchanges here as I was traveling.
The speaker was polite and made no mistake. But I agree with VV on this point. Till the date he took over, the prior management was in charge. Whatever they spoke or did at idfc bank was their own doing, obviously they were in control of the bank. My sense is that ilfs dewan etc news flow happened and so idfc bank was down.
So when the shareholder said he was holding idfc bank shares since years, the banchmark was idfc bank shares at merger. The stock price was 37.6 on December 11 when the merger approval was announced to the exchange. So that benchmark was absolutely fine I feel.
On provisions he did mention that the upcoming quarter was worse and he did call out MFI on multiple channels including cnbc I remember and in the agm. This was my gripe in earlier posts… on why they called it out so much.
But he gave no hint of upcoming provisions for MEP in q2 24, I agree. And looks like they said there are no more of these kind of accounts.
Maybe they wanted to take it all now so that next quarter onwards rhey can start the uptrend of pat. (hopeful) This was my take.
But i liked the loan growth, deposit growth, ppop growth.
Lets hope for a better fy 26.
On a separate note 75% at 90 dpd and 100 pc at 120 dpd, and now taking mfi provisions for sma 1 and 2 upto 99 pc is extreme conservatism. I can sleep in peace that they wont do wrong things. But is this much conservatism in accounting required at all?
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