Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

Muthoot Capital Says Asset Quality Is Improving After Kerala Flood Setback

Muthoot Capital Services Ltd. is recovering from the setback of Kerala’s worst floods in nearly a century in August, according to its Chief Operating Officer Madhu Alexiouse. “We have a steady business model and our asset quality has been improving after Kerala floods,” Alexiouse said in an interaction with BloombergQuint.

The non-banking financial services company’s gross non-performing assets had risen to 5.6 percent in the quarter ended September from 5.3 percent in the previous three months.

Alexiouse also downplayed liquidity concerns for non-bank lenders. It’s not going to impact Muthoot Capital in the third quarter ending December, he said, adding that the fourth quarter will be more positive.

Watch the full conversation here: