Sale28 Mar 2025, 08:30 pm
Suryoday Small Finance Bank Ltd Approves Sale of Stressed Loan Portfolio to Edelweiss Asset Reconstruction Company Ltd for Rs. 31.43 Crores
AI Summary
Suryoday Small Finance Bank Ltd has approved the sale of a stressed loan portfolio amounting to Rs. 80.59 Crores (Principal Outstanding value as on February 28, 2025) to Asset Reconstruction Company i.e. Edelweiss Asset Reconstruction Company Ltd (\
Key Highlights
- Suryoday Small Finance Bank Ltd approves the sale of a stressed loan portfolio worth Rs. 80.59 Crores.
- The portfolio will be sold to Edelweiss Asset Reconstruction Company Ltd for a consideration of Rs. 31.43 Crores.
- The Bank has an overall provision of ~61% on the pool of assets considered for the ARC transaction.
- The proposal was approved by the Credit Committee of Board on March 28, 2025.
- The transaction is expected to be completed soon.