Expect FY14 to be better than FY13: IOB CMD

M Narendra, CMD of Indian Overseas Bank spoke to CNBC-TV18, on slidelines of CFO awards , regarding his outlook for the financial year 2013-14.

Narendra says, the bank in the past two years has grown more than 800 branches, particularly 70 percent in the rural and semi-urban. "The business in the last two years has also improved from Rs 1,90,000 crore to Rs 3,50,000 crore. The increase proves that there is an opportunity for growth," he adds.

However, Narendra feels there have been difficult periods as well, specially in some particular sectors. "From the current Budget proposals, certain initiatives have been taken by the central government and also a few private initiatives. The year 2013-14 will be better year than 2011-12," says Narendra.

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