MoneyWorks4Me

PNB to sell some of its bad loans to ARCs

16 May 2014 Evaluate

Punjab National Bank (PNB) is planning to sell some of its bad loans to asset reconstruction companies (ARCs). In this regard, the bank’s board may meet by the end of the month.

The bank had for the last couple of years, taken a conscious decision of not offloading a portion of its NPAs to ARCs. The bank’s asset quality had taken a hit due to the slowdown in the economy.

PNB’s financial performance in 2013-14 was weighed down by an increase in provisioning for NPAs and also depreciation in investments.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
View more..