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Dena Bank is working on bringing down the corporate non-performing assets (NPAs) during the current and next quarters through recovery in some major corporate accounts.
Speaking to newspersons here on Monday, Karnam Sekar, Managing Director & CEO, Dena Bank, said his bank was in advanced stage of resolution in NCLT / NCLAT, sale of assets to Asset Reconstruction Companies (ARCs) and one-time settlement (OTS) scheme.
Dena Bank had already introduced an OTS scheme for small borrowers.
To address NPAs, Dena Bank is now implementing a programme called ‘Mission Dena 9999’ to reduce the total NPA level from ₹16,140 crore to ₹9,999 crore by March 2019.
Referring to the proposed amalgamation of three banks — Dena Bank, Bank of Baroda and Vijaya Bank — the CMD said it would result in the creation of the second-largest bank in the country, next to SBI in terms of business mix, branch network, working & operational efficiencies and customer service with enhanced lending ability.
Regarding the name and logo of the proposed amalgamated unit, he said it has not yet been finalised and discussions were on.
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