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Re: Banking News.....
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maverick_ronnie
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Re: Banking News..... - January 2nd, 2008

Indian Bank to recover 670 cr bad loans

NEW DELHI: Public sector lender Indian Bank today said it expects to recover 670 crore bad loans during the ongoing fiscal.

"So far, we have recovered 440 crore and expect to recover another 230 crore in the next three months," Indian Bank's CMD M S Sundarrajan told media.

Of the total recovery, around 300 crore would be added to the bank's reserves and surpluses, giving more headroom for raising capital through bonds, he said.

Asked about the loan target for the ongoing fiscal, he said the bank expects credit growth of 25 per cent during the year, with the deposit growth target pegged at 20 per cent.


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