Punjab National Bank (PNB) is planning to sell some of its bad loans to asset reconstruction companies (ARCs). In this regard, the bank’s board may meet by the end of the month.
The bank had for the last couple of years, taken a conscious decision of not offloading a portion of its NPAs to ARCs. The bank’s asset quality had taken a hit due to the slowdown in the economy.
PNB’s financial performance in 2013-14 was weighed down by an increase in provisioning for NPAs and also depreciation in investments.
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