Corporation Bank to sell Rs 400 crore NPAs by January

State-owned Corporation Bank is looking to complete the sale of a basket of non-performing loans totaling Rs 400 crore by January. The bank hopes to complete the sale of NPAs by late-December or latest by January. It has already received offers from consultants, after which a consultant will be appointed to manage the NPA sale process.

Corporation Bank’s net non-performing assets, as on September 30, were at 0.39 per cent of total loans, up from 0.29 per cent a year ago. Gross NPAs were at 1.18 per cent.