Bajaj Finserv - Covid-19 Update and Business Continuity Plan slide image

Bajaj Finserv - Covid-19 Update and Business Continuity Plan

BFL's - Summary on Covid-19 BAJAJ B FINSERV Consolidated moratorium book has reduced sharply to Rs. 21,705 crore (15.7% of AUM) as of 30 June 2020 from Rs. 38,599 crore (27.1% of AUM) as of 30 April 2020 owing to reduction bounce / dishonor rates coupled with improved collection efficiencies. Company has made an additional contingency provision of 1,450 crore for COVID-19 taking the overall contingency provision for COVID-19 to 2,350 crore as of 30 June 2020. The Company has made an overall contingency provisioning of 10.8% on its moratorium book as of 30 June 2020. On this moratorium book, the Company has an additional ECL provision of 623 crore, taking the overall provision coverage on the moratorium book to 13.7%. In addition, as a matter of prudence, in line with contingency provision, the Company has also reversed interest income to the tune of 220 crore from the interest capitalized during the moratorium period. The Company has strong pre-provision profitability to absorb increased losses caused by Covid-19. 12
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