Bandhan Bank Limited approves transfer of Housing Finance NPA portfolio of Rs. 775.62 crore to ARC

The Board of Directors of the Bandhan Bank Limited has, on December 21, 2023, approved the proposal to transfer the Bank's Housing Finance NPA portfolio, having Days Past Due ('DPD') of more than 180 days, with an outstanding of Rs. 775.62 Crore (as on September 30, 2023), to Asset Reconstruction Company ('ARC'). The Bank has received a binding bid of Rs. 280.39 Crore (i.e., 36.15% of the outstanding pool) for the said NPA portfolio, on Outright Cash consideration basis. The Bank is going for bidding as per the Swiss Challenge method and the decision of sale shall be taken as per the extant guidelines governing the Swiss Challenge method and the relevant policy of the Bank.

Shares of Bandhan Bank Limited was last trading in BSE at Rs. 248.50 as compared to the previous close of Rs. 253.40. The total number of shares traded during the day was 283143 in over 3811 trades.

The stock hit an intraday high of Rs. 253.50 and intraday low of 246.00. The net turnover during the day was Rs. 70500539.00.

Source : Equity Bulls

Keywords

BandhanBank INE545U01014 HousingFinanceNPA ARC