Dena bank aims to re­cover `6K cr NPA

Sunday Express - - TAMIL NADU / SOUTH -

Chennai: Dena Bank, which is pre­par­ing for its amal­ga­ma­tion with Bank of Bar­oda and Vi­jaya Bank, aims to re­cover `6,000 cr of Non Per­form­ing As­sets (NPA) by next fi­nan­cial year, Ra­jesh Ku­mar Yadu­van­shi, ex­ec­u­tive di­rec­tor of the bank, told re­porters on Satur­day. “Cur­rently the bank has an NPA of `16,000 crore and we want to re­cover at least `6,000 crore by March 2019,” he said adding that the bank has em­ployed dif­fer­ent strate­gies to re­cover dif­fer­ent kinds of NPA. He met with branch man­agers across the State on Satur­day to train them in ef­fec­tive re­cov­ery of large chunks of bad loans. “We want to re­new the per­for­mance of the zone and limit the NPA here at the ear­li­est,” he said. He said the bank has also been or­gan­is­ing mega na­tion-wide auc­tions of mort­gaged wealth as­so­ci­ated with bad loans to re­cover funds more quickly while sav­ing upon ad­ver­tise­ment costs. ENS

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