Ahead Of IPO, LIC Improves Asset Quality
NDTV
LIC's non-performing assets as on March 31, 2021 were Rs 35,129 crore out of a total portfolio size of Rs 4,51,303 crore
As insurance behemoth Life Insurance Corporation of India (LIC) prepares for its initial public offer (IPO), expected towards the end of this fiscal, the company has improved its asset quality for 2020-21.
LIC's non-performing assets (NPAs) as on March 31, 2021 were Rs 35,129 crore out of a total portfolio size of Rs 4,51,303 crore, its annual report said.
The sub-standard assets are Rs 254.37 crore whereas the doubtful assets are Rs 20,369.17 crore and loss assets are Rs 14,506.35 crore. An amount of Rs 34,934.97 crore is provided as per IRDAI guidelines in the books of accounts towards non-performing assets, it said.
The percentage of gross NPA is 7.78 per cent while the net NPA is 0.05 per cent at the end of March 2021. This is lower than gross NPA of 8.17 per cent (as a percentage of its debt portfolio) and net NPA of 0.79 per cent in the previous year.
