Andhra Bank has put Rs 3,871 crore woth of non-performing assets (NPAs)up for sale. These NPAs involve 113 loan accounts with ticket sizes as large as Rs 507.63 crore owed by Andhra Pradesh-based Transtroy (India) Private Limited to as small as Rs 1.26 crore of N K Rubber Industries from Faridabad. Click here to follow our WhatsApp channel The bank has invited asset reconstruction companies (ARCs) to file bids on or before June 17.Andhra Bank has chosen the sale route to reduce NPAs as the management finds it increasingly difficult to recover loans from such a large NPA portfolio with limited resources at the bank’s disposal. The bank’s gross NPAs have more than doubled in the last…
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Andhra Bank puts up Rs 3,871-crore NPA assets for sale, prefers cash bids | Banking News
