IDFC Bank's application to the Reserve Bank of India is under process and the merger has already received clearance from the Competition Commission of India, he told BloombergQuint in a post-earnings interaction.
The retail segment will contribute a significant portion of the revenue for the merged entity, Vaidyanathan said. He expects a compounded annual growth rate of 25 percent in retail and stable asset quality. “We expect improvement but the gross non-performing assets are expects to be stable at 1.6 percent levels.”
While project financing remains a matter of concern, Vaidynathan sees ‘streams of income in the wholesale banking segment as well.
Watch the full conversation here: