Indian public sector banks' reduce their net non-performing assets.
Indian public sector banks' reduce their net non-performing assets. The Financial Times reported that most of India's 26 public sector banks (PSBs) are implementing various recovery schemes in an effort to reduce their net non-performing assets (NNPAs). The NNPAs of the PSBs declined to INR 130.88bn in H1/2006-07 (April-September), a y/y decline of 10.42% from INR 146.11bn in the corresponding period last year. The gross NPAs also decreased by 12.3% y/y to INR 397.32bn. The average NNPAs to net advances ratio declined to 1.03% in H1/2006-07 from 1.53% in the corresponding period of 2005. Title: India, Net non-performing assets – Apr – Sept 2006 Ratio of NNPAs Top five banks Apr- Sept-2005 Apr- Sept-2006 Dena Bank 3.92% 2.89% Central Bank 2.79% 2.22% UCO Bank 2.62% 2.02% United Bank 2.44% 2.44% SB of Indore 1.32% 1.82% Source: RBI