Bandhan Bank Ltd approves transfer of loans from Banking Units

The Board of Directors of Bandhan Bank Ltd, at its meeting held on March 21, 2023 approved the proposal for transfer of Loans originated from Banking Units ('BUs') and SEL written-off portfolio with outstanding of Rs. 2,614.03 crore and Non-Performing Assets Loans originated from BUs, amounting to Rs 2,316.32 crore to Asset Reconstruction Company ('ARC'). The Bank has received binding bid of Rs.369.20 crore for written-off portfolio and Rs. 370.62 crore for NPA portfolio on Security Receipts (SR) consideration basis. The Bank shall go for bidding as per Swiss challenge method and decision of sale shall be taken as per extant guidelines governing Swiss challenge method and the relevant Policy of the Bank.

Shares of Bandhan Bank Limited was last trading in BSE at Rs. 202.80 as compared to the previous close of Rs. 201.50. The total number of shares traded during the day was 265721 in over 3635 trades.

The stock hit an intraday high of Rs. 204.00 and intraday low of 198.30. The net turnover during the day was Rs. 53394500.00.

Source : Equity Bulls

Keywords

BandhanBank INE545U01014 Loans NPAs SEL BusinessUnit