Ujjivan Small Finance Bank advanced 2.53% to Rs 34.41 after the bank informed that it has successfully completed the sale of non-performing assets (NPAs) and written-off loans worth over Rs 270 crore to an asset reconstruction company.
In a regulatory filing, the bank confirmed that as of 27 November 2024, it had completed the sale of a stressed loan portfolio, including written-off loans, with an outstanding value of Rs 270.35 crore as of 30 September 2024. The transaction, conducted through the Swiss Challenge Method, was sold to the ARC for a consideration of Rs 40.55 crore.Earlier, on 15 November 2024, the banks authorized board committee had approved the proposal for the sale of these NPAs and written-off loans to the ARC.
Ujjivan Small Finance Bank serves approximately 92 lakh customers through 752 branches and 23,746 employees spread across 326 districts and 26 states and union territories in India.
The bank reported 28.89% decline in net profit to Rs 233.03 crore despite of 15.20% rise in total income to Rs 1,820.04 crore in Q2 FY25 over Q2 FY24.
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