The pool comprises Rs 362.43 crore in non-performing assets (NPAs) and Rs 372.75 crore in technically written-off accounts. The bank noted that it has provisioning coverage of 90.15% against the total pool.
The board has authorised the Asset Sale Committee of Executives to carry out the necessary formalities to complete the transaction. The name of the ARC and specific terms of the sale were not disclosed.
Separately, ESAF Small Finance Bank has entered into a partnership with Maruti Suzuki India to offer retail financing solutions for new cars, used cars, and commercial vehicles.
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The two companies signed a memorandum of understanding (MoU) to provide flexible and accessible financing options, especially targeting first-time buyers. The partnership will leverage the combined networks of ESAF SFB and Maruti Suzuki across tier-II and tier-III cities to enhance vehicle ownership opportunities for a wider customer base, according to a company statement.
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Technical indicators:
The Relative Strength Index (RSI) stands at 43.8, indicating that the stock is neither overbought nor oversold. The MACD is at 0.7, remaining above the center line but below the signal line. The stock is currently trading below its 10-day, 20-day, and 200-day simple moving averages, while staying above the 50-day and 100-day SMAs.
ESAF Small Finance Bank shares have gained approximately 13.5% over the past three months but have declined 43% over the past 12 months. The company’s market capitalisation currently stands at around Rs 1,566.9 crore.
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