HYDERABAD: Allahabad Bank, Kolkata-based public sector lender today said it is in the process of implementing a three-pronged strategy to rein in the NPAs, which had dented its net profit in the second quarter in the current fiscal.
Shubhalakshmi Panse, chairman and managing director Allahabad BankBSE -1.24 % said as part of the strategy, the lender is trying to offload Rs 540 crore worth of Non-Performing Assets (NPAs) before the end of the fiscal.
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"The strategy will be appointing a general manager to look after the credit management, doubling the recovery target and off-loading a part of Rs 2,300 crore NPAs. With these measures, we hope to control the NPAs," Panse told reporters in a press conference.
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