PFS to sell two stressed assets to ARC; focus on road, transmission, ports

With the current stress in powergen sector, PFS has 18% of its Rs 134 bn loan portfolio in distress, not all of which are NPAs

PTC India Financial Services (PFS), the lending arm of Power Trading Corporation, plans to give away two of its accounts to an asset restructuring company.

The company has Rs 10.26 billion loan as third stage accounts corresponding to NPA for which it has made provision of Rs 5 billion. This is 7.68 per cent of loan portfolio as on June 30, 2018 on gross basis and 3.92 per cent on net basis after making about 50 per cent provisioning on expected credit loss basis.

With effect from April 1, 2018 the loan account classification for the company is being made