Bank of Maharashtra, a premier Nationalized Bank is reportedly planning to sell around Rs 500 crore of non-performing assets (NPAs) to asset reconstruction companies (ARCs) before the end of March 2015. The bank is looking to improve the NPA situation and sale of bad loans is part of the bank’s NPA management strategy. As of end December 2014, the bank’s gross NPAs as a percentage of advances stood at 6.65 per cent, while the net NPA level stood at 4.7 per cent.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The bank also offers services to agricultural and SME sectors.
