To monetize its real estate portfolio, Punjab National Bank (PNB) plans to sell its real estate assets in central Delhi. "At present, the bank's units which are part of the headquarters are spread across various locations. PNB will relocate its headquarters to its new building in Dwarka, releasing the currently occupied space," said Usha Ananthasubramanian, the public sector lender's managing director and chief executive officer. The bank would also auction some of its realty assets in Kanpur and Gorakhpur (Uttar Pradesh) and some properties in Kerala, she said on Friday during a conference call with analysts.
PNB is also planning to recover Rs 3,000 crore from among its bad loans by selling these to asset reconstruction companies (ARCs).
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PNB to sell off some realty assets
By IndianMandarins - 2016-07-30 13:52:08
To monetize its real estate portfolio, Punjab National Bank (PNB) plans to sell its real estate assets in central Delhi. "At present, the bank's units which are part of the headquarters are spread across various locations. PNB will relocate its headquarters to its new building in Dwarka, releasing the currently occupied space," said Usha Ananthasubramanian, the public sector lender's managing director and chief executive officer. The bank would also auction some of its realty assets in Kanpur and Gorakhpur (Uttar Pradesh) and some properties in Kerala, she said on Friday during a conference call with analysts.
PNB is also planning to recover Rs 3,000 crore from among its bad loans by selling these to asset reconstruction companies (ARCs).
