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Corporation Bank to sell Rs 1,000 crore of stressed loans to ARCs

25 Aug 2015 Evaluate

Corporation Bank, public sector lender, is planning to sell Rs 1,000 crore of stressed loans to Asset Reconstruction Companies (ARCs) by the end of this quarter. The bank’s gross bad loans stood at Rs 7,765 crore for quarter ending June 2015 against Rs 5,470 crore a year ago. In the same period, the share of bad loans to the total loan book stood at 5.4% as against 3.9%.

The bank is targeting a credit deposit growth of 12% for this fiscal year. It also plans to improve the share of low cost deposits. As of now the bank CASA (current and saving account) is around 19-20% and the bank is aiming to increase it to 25%.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. Overall, the Bank has a wide network of over 9,000 centres across India, including 2,061 branches, 2,599 ATMs and 4,349 branchless banking units.


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Company Name CMP
State Bank Of India 1034.00
PNB 106.85
Bank Of Baroda 274.20
Canara Bank 126.40
Union Bank Of India 173.60
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