The decision was taken by the Board of Directors at its meeting held on April 30, in line with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
The bank said it will provide further details after the execution of the deed of assignment.
On Wednesday (April 29), the bank reported a 22% jump in its consolidated net profit in the March quarter of FY26 at ₹1,341 crore, as against ₹1,091 crore in the year-ago period.
The bank highlighted that its reported profit for the quarter included a one-time gain from interest on an Income Tax refund, which it fully offset by creating a floating provision of an equivalent amount. The provision has been set aside to prepare for additional requirements expected under the Reserve Bank of India’s upcoming Expected Credit Loss (ECL) framework, which is set to be implemented from April 2027.
Management said the bank continued to see traction in retail and higher-yielding segments, including credit cards, while maintaining a cautious approach toward home loans amid competitive pressure in the segment.
Corporate loan growth is expected to remain moderate, with a greater emphasis on diversification of revenue sources.
