The net non-performing assets (NPA) of 27 foreign banks showed a hefty growth of 25.3 per cent during the year ended March 31, 2002.
The NPAs of these banks rose from Rs 642.09 crore in 2000-01 to Rs 804.69 crore in 2001-02. The jump was largely due to a 15.5 per cent decline in provisioning, from Rs 1,593.26 crore to Rs 1,346.29 crore. On the gross NPAs side, these banks reported a 6.6 per cent decline from Rs 2,582.43 crore in 2000-01 to Rs 2410.94 crore in 2001-02. Among foreign banks, HSBC had the highest gross NPAs of Rs 446.46 crore in 2001-02. After providing Rs 268.53 for NPAs, the bank had net NPAs of Rs 177.93 crore. In 2000-01, the bank