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IDFC Bank sells loan accounts worth Rs 2,070 crore to ARC

The gross NPAs and net NPAs of IDFC Bank were at Rs 1,542 crore and Rs 576 crore

BS Reporter 

IDFC Bank sells loan accounts worth Rs 2,070 crore to ARC

The gross non-performing assets (NPAs) and net of were at Rs 1,542 crore and Rs 576 crore, respectively. In 2016-17, sold 14 loan accounts with a net carrying value of Rs 2,070 crore to an asset reconstruction company (ARC). 

This helped in lowering the bank’s gross NPA ratio (as a percentage of gross advances) to three per cent and Net NPA (as a percentage of net advances) to 1.1 per cent.

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