Jet crisis: From SBI to IOB, PSBs to be hit hardest if there's no buyer

Any potential buyer of Jet would be staring at a total debt of around Rs 11,000 crore unless they get substantial write-offs


Public sector banks (PSBs), which account for 70 per cent of the over Rs 7,000-crore loan given to Jet Airways, will take the biggest hit if no buyer is found for the ailing and now temporarily shut airline. According to sources, State Bank of India and Punjab National Bank together comprise around 53 per cent of the total loan exposure. The other PSBs which have lent heavily to Jet include Canara Bank, Indian Overseas Bank and Bank of India. Amongst the private banks, YES Bank has the largest loan exposure, followed by ICICI Bank and IDBI Bank. Any potential buyer of Jet would be ...