His successor Ravneet Gill’s clean-up drive has made it obvious that the bank’s shine wasn’t anything like the diamond it was likened to. The private lender’s 10% loan growth for the June quarter is a shadow of its past record of 45-50%. Besides, the toxic levels of the book have only risen as Gill’s clean-up drive continues to reveal troubled accounts. Gross bad loans are now 5.01% of the bank’s loan book, a massive increase from 1.3% a year ago. The bank’s capital has already depleted due to provisioning.

Source: Mint July 17, 2019 14:37 UTC