On 06 May 2019
Toshore up capital, the Indian Overseas Bank is looking at all avenues to improve its capital position and has been actively pursuing monetization of its non-core assets. The Bank has identified 32 properties for sale including prime properties in Singapore and Hong Kong aggregating in value to Rs.900 crore. During 2018-19, the Bank has sold 6 properties ie. 1 domestic and 5 verseas properties for a value aggregating Rs.129crore which has helped in accretion to capital. It has initiated the process for sales of the remaining 26 properties valued at about Rs. 775 crore and is engaging various stakeholders for expediting sale and to derive maximum value in the process.Powered by Capital Market - Live News
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