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- by bloombergquint.com
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Ujjivan Small Finance Bank Share Price Rises After Selling Bad Loans
Ujjivan Small Finance Bank Ltd.'s share price rose as the bank sold its stressed loan portfolio to an asset reconstruction company. The small finance bank sold the loan portfolio worth Rs 364.51 crore, at Rs 34.26 crore, marking a 91% haircut. The board of Ujjivan Small Finance Bank had approved the sale of its non-performing asset and written-off loans, in February. This sale is part of the lenders' portfolio clearing process.