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Published 15:58 IST, November 15th 2024
Ujjivan SFB To Sell NPA And Written-off Loans Worth Rs 270 Crore
“We will separately intimate as and when the aforesaid proposed deal is completed.” The bank said in the filing.
- Companies
- 1 min read
Ujjivan Small Finance Bank (SFB) has announced the sale of Non-Performing Assets (NPA) and written-off loans worth Rs 270 crore to an Asset Reconstruction Company (ARC), on November 15.
What's Being Written Off?
In a stock exchange filing, the bank said that it wills ell an NPA of Banking Pool size of Rs 207.98, write off Rs. 62.36 crores from a microbanking pool size of Rs. 270.35 crores. The bank carries an overall provision of 85.61 per cent on the above pool.
What's next
“We will separately intimate as and when the aforesaid proposed deal is completed.” The bank said in the filing.
Ujjivan Small Finance Bank earlier reported a 29 per cent decline in net profit to Rs 233 crore for the quarter ended September 2024.
The lender earned a net profit of Rs 328 crore in the year-ago period. However, total income rose to Rs 1,820 crore in the quarter under review from Rs 1,580 crore in the same period a year ago, Ujjivan Small Finance Bank said in a regulatory filing.
Updated 15:58 IST, November 15th 2024
