National Bad Bank
Union Bank of India to sell 8 NAP accounts worth Rs 3,000 crore to NARCL
Union Bank of India on Friday said it has identified eight troubled accounts worth Rs 3,000 crore to be sold to the national bad bank NARCL this fiscal. The lender has more than doubled its net income at Rs 3,236 crore in the June 2023 quarter on improved asset quality and recoveries. The city-based bank had already sold three accounts worth Rs 900 crore last fiscal to the national bad bank at a recovery of 33 per cent. We have sort of identified as many as 42 troubled accounts with an outstanding of Rs 10,000 crore to be sold to the National Asset Reconstruction Company (NARCL). Of these, we hope to sell at least eight of them to that central government-owned bad bank this fiscal, A Manimekhalai, the chief executive and managing director of the public sector lender, told reporters at the bank's post-earnings presser here. Union Bank was one of the first lenders to sell its NPAs to NARCL in the first lot of the bad bank's such transactions. The bank had recovered Rs 20,000 crore f
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Canara Bank to be lead sponsor of bad bank, to pick up 12% stake
Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution.
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Government-owned bad bank is more capital efficient: Report
A brokerage has called for government ownership, saying state-funding is more capital efficient
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Aditya Puri backs national bad bank as solution to NPA problem
Almost 20% of the banking assets are stressed with the NPAs
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