Andhra Bank puts up Rs 1,653-cr of NPAs for sale

The gross and net NPA ratios were 5.75 per cent and 2.99 per cent, respectively, in June 2015

Government-owned Andhra Bank has put up 62 stressed loan accounts, with a combined principal balance of Rs 1,653 crore, for sale in a move to partly reduce the burden of non-performing assets (NPAs).
 
This will be the second NPA sale by the bank in this financial year. In June, it sold Rs 3,871 crore of NPAs. The bank had added Rs 2,214 crore in new NPAs during the 12 months ended June; reduction in NPAs stood at Rs 456 crore during the same period. The present round of auction, which would take the total sale of NPAs to a