Finance

Federal Bank sells stressed loans of GOL Offshore

sector lender Federal Bank, which has been battling high non-performing assets (NPAs), has sold theloans of GOL Offshore (formerly Great Offshore) to asset reconstruction companies (ARCs). “The account was standard in our book, but we could foresee trouble brewing. We sold it to ARCs for Rs 140 crore in the October-December quarter. We got the right price for it,” said ... Read More »