State-owned Corporation Bank is looking to complete the sale of a basket of non-performing loans totalling Rs 40 0crore by January, Chairman and Managing Director Ramnath Pradeep said in an interview.
“We hope to complete the sale of NPAs by late-December or latest by January. We have already received offers from consultants, after which a consultant will be appointed to manage the NPA sale process. This should all take about a month,” he said. He could not share the exact number of accounts to be sold, but added that it also included “some prudentially written off accounts.” Corporation Bank’s net non-performing assets, as on September 30, were at 0.39 per cent of total loans, up from 0.29 per cent a year ago. Gross NPAs were at 1.18 per cent.
