ICICI Bank has classified its exposure to Singapore-based fraud-hit oil trader Hin Leong Trading Pte as NPAs (non-performing asset) and has made provisions to cover the likely losses against this exposure, said the bank’s management in a conference call on Saturday.
The bank has also tagged exposure to one healthcare firm in West Asia as NPA. This exposure too has been provided for.
“Our exposure to both these accounts have been classified as NPA and substantially provided for in this quarter. Going forward, we do not expect any impact on the P&L from these accounts,” said Sandeep Batra, President, ICICI Bank.
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