Bank of Maharashtra is planning to offload non-performing assets (NPAs) worth Rs 500 crore to asset reconstruction companies in Q2FY16. This first tranche of Rs 500 crore is expected to be put on the block in September.
The bank is targeting a sale of another Rs 1,000-1,500 crore worth NPAs by the end of this fiscal. The bank had sold NPAs worth Rs 200 crore in FY15.
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.
