Union Bank expect 15,000 Crore from bad loan

The bank said it would recover 15000 crore from bad loan during the analysts conference call post June 22-23 quarter earnings announcement last week.

Union bank of India in this fiscal year expect around 15,000 crore from bad loan, most of it would come from account undergoing the insolvency resolution process, other would come from accounts under  national company law tribunal for resolution of bad loan and it worth 10,000 crore.

Besides, the public sector lender is also likely to shift a few account under the

Newly incorporated debt resolution company.

A total of 44 bad loans have already been approved by the NCLT with loan exposure of Rs 4,842 crore. Additional 55 dud accounts cleared by the Committee of Creditors (CoCs) are awaiting approval of the tribunal. The 55 NPA accounts to be approved by NCLT have a total exposure of Rs 5,168 crore.

So, almost around Rs 10,000 crore which we should expect in this financial year, definitely it should come…and (in) NARCL also, another three-four months, we are expecting some good number of accounts likely to be shifted,” the bank said in a transcript of the analysts call.

Rest of recovery was through traditional modes such as sale of properties, one-time settlement and Debt Recovery Tribunal (DRT) resolutions.

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