Indian Bank to divest ASREC stake for asset monetisation

The Indian Bank board of directors has recently accorded in-principle approval for the partial or full disinvestment of the bank’s stake in ASREC (India) Ltd. Indian Bank holds a 38.26% stake in ASREC (India) Ltd. and the decision to divest stake is part of monetisation of the bank’s non-core assets.

ASREC (India) Ltd. acquires Non Performing Assets (NPAs) from banks and financial institutions at mutually agreed prices with an objective to maximise the returns through innovative resolutions strategies.