Vijaya Bank, the Karnataka-based bank is reportedly planning to reduce its net non-performing assets (NPAs) to below 2% of total advances by the end of the current financial year. All regional managers and their teams are approaching customers either for upgradation or for one-time settlement. The bank has also initiated measures such as cajoling, handholding, restructuring and refinancing, wherever required.
The bank’s gross NPA for the July-September quarter of the current fiscal increased to 3.98%, as compared to 2.85% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 2.84% in Q2FY16.
Vijaya Bank offers various products and services specific to various segments such as it has saving accounts for children, scheme for women clientele, credit facilities to minority communities like Zoroastrians, Buddhists are among others.
