Sale15 Nov 2024, 05:03 pm
Ujjivan Small Finance Bank Ltd. Approves Sale of NPA and Written-off Loans Worth Rs. 270.35 Crores to ARC
AI Summary
Ujjivan Small Finance Bank Ltd. has approved the sale of Non-Performing Assets (NPA) and written-off loans amounting to Rs. 270.35 crores to an Asset Reconstruction Company (ARC). The microbanking pool consists of Rs. 207.98 crores worth of NPA (DPD 180+) and Rs. 62.36 crores of written-off loans. The bank has an overall provision of 85.61% on this pool. The decision was made at a Board Committee meeting on November 15, 2024, and the completion of the proposed deal will be intimated separately.
Key Highlights
- Ujjivan Small Finance Bank Ltd. approves the sale of NPA and written-off loans worth Rs. 270.35 crores to an ARC.
- The microbanking pool includes Rs. 207.98 crores of NPA (DPD 180+) and Rs. 62.36 crores of written-off loans.
- The bank has an overall provision of 85.61% on the above pool.
- The decision was made at a Board Committee meeting on November 15, 2024.
- The completion of the proposed deal will be intimated separately.