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SBI to sell 3 bad loan accounts to recover Rs 2,111 crore dues

Press Trust of India  |  New Delhi 

The country's largest lender SBI has put up for sale three of its non-performing loan accounts to recover dues of Rs 2,110.71 crore.

An will take place on December 13 for the sale of these three accounts -- Sona Alloys Pvt Ltd, and

"In terms of the bank's policy on sale of financial assets in line with the regulatory guidelines, we place these accounts for sale to banks/ARCs/NBFCs/ etc, on the terms and conditions indicated there against," SBI said in the auction notice on its website.

SBI said the interested banks/asset reconstruction companies (ARCs)/companies (NBFCs) or financial institutions (FIs) can conduct due diligence of these assets with immediate effect, after submitting expression of interest and executing a non-disclosure agreement with the

Once the deal is finalised, the assignment deed and other legal formalities will be completed in the shortest possible time as mutually agreed upon, SBI added.

Earlier on November 22, SBI held of 11 NPA accounts that had outstanding dues of Rs 1,019 crore towards the

The gross non-performing assets (NPA) of the rose to 9.95 per cent of the gross advances as on September 30, 2018 from 9.83 per cent a year ago.

Net NPAs stood at 4.84 per cent of the net advances, up from 4.53 per cent.

The bank had posted a 69 per cent decline in consolidated net profit to Rs 576.46 crore for the second quarter of this fiscal.

It had logged a net profit was Rs 1,840.43 crore in the corresponding July-September quarter of 2017-18.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, December 02 2018. 11:55 IST