Mumbai: State-run Central Bank of India is in final stages of evaluating bids from asset reconstruction companies to sell non performing assets worth Rs400 crore, its chairman said on Wednesday.
“We are evaluating the bids and the final decision is expected in a couple of days,” S. Sridhar told Reuters on the sidelines of a banking summit.
The bank is expecting a credit growth of 2009-10 at 15-16%, lower than target of 18% for the fiscal, on lower demand from industry following economic slowdown, he said.
Economic slowdown hit the bank loan growth that slid to 9.8% in November, but recovery led to pick up in loan growth in January to 14.8%. The lender is targeting a loan growth of 20% in 2010-11 with pick up in credit demand from infrastructure, manufacturing and retail sectors, Sridhar said.
The bank also plans to raise its stake in its housing finance arm from 59% now to make it a wholly owned unit. “Talks are on with existing stakeholders.”
National Housing Bank, Housing Urban Development Co. and Unit Trust of India are the other stakeholders in the unit Cent Bank Home Finance. Shares in the bank ended 4.77% down at Rs149.60 in the stockmarket that ended down 0.19%.