 "IDFC Bank sells loan accounts worth Rs 2,070 crore to ARC")
The gross non-performing assets (NPAs) and net NPAs of IDFC Bank were at Rs 1,542 crore and Rs 576 crore, respectively. In 2016-17, IDFC Bank sold 14 loan accounts with a net carrying value of Rs 2,070 crore to an asset reconstruction company (ARC).
This helped in lowering the bank’s gross NPA ratio (as a percentage of gross advances) to three per cent and Net NPA (as a percentage of net advances) to 1.1 per cent.
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