ESAF Small Finance Bank sells Rs.1,700-Cr bad loans to ARCs

Thrissur, Kerala-based ESAF Small Finance Bank has decided to sell bad loans amounting to INR 1,700 crore to asset reconstruction companies (ARCs).As of the end of September, ESAF Small Finance Bank reported gross non-performing loans of INR 1,635 crore, representing 8.5% of its gross advances. Net non-performing assets stood at INR 696 crore, which was 3.8% of the advances.