PNB Housing Finance recovers corporate non-performing account of Rs 784 crore

According to a statement with exchanges, the housing finance company has resolved and entirely recovered its major corporate non-performing account of Rs 784 crore, which is 1.3 percent of loan assets as of June 2023. This was accomplished via the implementation of a targeted and multi-pronged resolution approach.

On August 19, the account was settled via the Swiss challenge technique through an ARC sale. The company's gross non-performing assets (NPAs) as of June 2023 were Rs 2,270 crore (3.76 percent of loan asset), while its loan asset was Rs 60,395 crore.

The market capitalization of PNB Housing Finance is Rs 16,491 billion. Promoters, FIIs, and DIIs each possess a 28.15 percent, 24.77 percent, and 7.61 percent share in the company, respectively, while the general public owns 39.47 percent of the company.

Source: Media Reports