M&A M&A
Utkarsh Small Finance Bank sells Rs.1,491-Cr bad loans for Rs.195-Cr
Source Economic Times (opens in a new tab)BSE Announcement (opens in a new tab)
Kolkata-based Utkarsh Small Finance Bank has sold non-performing assets (bad loans) worth INR 1491 crore to Asset Reconstruction Company India Ltd (ARCIL) and Shriram Asset Reconstruction Pvt Ltd. The sale was completed for a total consideration of INR 195 crore.Utkarsh Small Finance Bank offloaded two distinct pools of stressed microfinance loans. The first pool, comprising 2.92 lakh accounts amounting to INR 1016 crore, was sold to ARCIL for INR 133 crore. The second pool, consisting of 1.37 lakh accounts with outstanding loans of INR 475 crore, was sold to Shriram Asset Reconstruction Pvt Ltd for INR 62 crore.