Vijaya Bank aims to drastically bring down NPA

Vijaya Bank aims to drastically bring down NPA

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Mangaluru, Dec 1, 2015: Kishore Sansi, Managing Director and CEO, Vijaya Bank, on Tuesday said the bank is making serious efforts to bring down its non-performing assets (NPA), from the present 3.98 and 2.84 per cent respectively of gross and net NPAs to less than 3 and 2 per cent by the end of this fiscal.

 

Mr. Sansi told presspersons here that all the senior officials of the bank have fanned out to the field to persuade defaulting customers to either clear the dues or restructure the debts. The bank has also urged the Central government and debt recovery tribunals to hasten the debt recovery process.

Responding to a question, Mr. Sansi said the bank’s exposure to electricity distribution companies is about Rs. 9,000 crore. The government has allowed conversion of the outstanding advances to bonds, 50 per cent of which could be done by March 2016 and another 25 per cent during the next fiscal.

The bank has so far opened 128 branches and 184 ATMs across the country this fiscal and would add another 84 branches and 122 ATMs by the end of the year, taking the total number of delivery channels to 3,500 in the country. Vijaya Bank has presence in 23 States, Mr. Sansi said.

The MD, who was in Mangaluru to chair the AGM of Vijaya Rural Development Foundation, said the Foundation has plans to reach out to the unemployed during its silver jubilee celebrations this year.

Senior officials of the bank were present.

 

Courtesy: The Hindu