BANKING AND CREDIT NEWS-August 19, 2019--Bank of India planning to recover funds from non-performing assets
M2 EQUITYBITES-August 19, 2019--Bank of India planning to recover funds from non-performing assets
Gross non-performing assets
were at 1.4 per cent of gross advances as on June 30 as against 1.3 per cent as on June 30 last year while net non-performing assets
were at 0.4 per cent of net advances at the end of the first quarter this year.
Indian public sector lender Punjab National Bank (PNB) (532461.BO) (PNB.NS),is planning to sell six non-performing assets
(NPAs) worth over INR10.0bn, The Business Today has reported online citing a notice issued from the bank.
Credit quality remained strong with non-performing assets
to total assets at 0.29% at quarter end."
In a text message, GSIS President and general manager Jesus Clint Aranas said the state pension fund's move to sell its stake in PNCC is in line with its policy of disposing non-performing assets
. "We are looking to sell all non-performing assets
IANS New Delhi Former Finance Minister P Chidambaram on Sunday slammed Prime Minister Narendra Modi for his remarks about bad loans generated during UPA rule, and asked his government to disclose loans given during the NDA rule that turned into Non-performing assets
Its gross non-performing assets
(NPAs) soared to Rs 57,806.84 crore, or 30.78 percent of total advances, in the April-June quarter of 2018-19, from Rs 50,173.20 crore or 24.11 pe cent in the year-ago period.
Al Omaniya has a well diversified portfolio of assets with non-performing assets
ratio of 1.29 per cent, the lowest in the industry.
Indian banks are vulnerable to further decline in profits as they face slow credit growth and elevated non-performing assets
, IMF has said, calling for "additional and more timely action" to deal with the problem of bad loans.
Likewise, collections of non-performing assets
augmented the bank's miscellaneous income, PNB added.