Bandhan Bank receives Rs 280 crore bid for Rs 776 crore home loan NPAs

Private sector lender Bandhan Bank has informed the exchanges that it has received bids worth Rs 280.39 crore from asset reconstruction companies for the bank’s housing finance loan non-performing assets (NPAs). The bank will sell the bad loans for cash.

Bandhan decided to sell housing loan NPAs, where repayment was due for over 180 days, worth Rs 776.62 crore as on September 30. The housing loan NPA ratio of the bank was 4.1% at the end of the second quarter.

“The bank is going for bidding as per the Swiss Challenge method and the decision of sale shall be taken as per the extant guidelines governing the Swiss Challenge method and the relevant policy of the bank,” the lender informed the exchanges.