He emphasised that neither the RBI nor any statutory auditors have raised concerns, countering the “nonsense” being spread about the bank.
Agarwal’s comments come amidst a period of market turbulence and organised rumors, which he believes are aimed at undermining the bank’s stock.
He reiterated the fundamental principle that banking is built on trust and stability, not just stock market fluctuations. “We remain very strong in every sense,” he asserted.
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Despite acknowledging a challenging year marked by asset quality issues, particularly in the microfinance institution (MFI) sector, Agarwal maintained a long-term growth perspective. He projected a recovery in the MFI segment by the first or second quarter of the next financial year and emphasised the bank’s robust retail asset growth, highlighting the achievement of surpassing one lakh crore in deposits.
Agarwal also dismissed the notion that the bank’s success stemmed from a lack of competition, attributing its strength to strategic execution and a focus on building a strong franchise.
He reaffirmed the bank’s margin guidance, demonstrating stability amidst volatility, and committed to responsible reporting by deferring specific non-performing asset (NPA) and credit cost guidance until after the financial year’s end.
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He addressed internal challenges, attributing credit card issues to internal discipline rather than market pressures.
The current market capitalisation of the bank stands at ₹40,221.17 crore.
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(Edited by : Unnikrishnan)
First Published: Mar 24, 2025 3:46 PM IST