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ICICI Bank has $100 mn exposure to cash-strapped Hin Leong Trading

Singapore city New Delhi crisis Coronavirus
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NEW DELHI : ICICI Bank could see a rise in its non-performing assets with Singapore-based oil trading major Hin Leong Trading filing for bankruptcy.

According to the oil trading company's filing, ICICI Bank has an exposure of $100 million, out of its total dues of $3.64 billion, to the secured lenders.

Out of its total exposure to Hin Leong Trading, $75 million is secured over inventory, as per the inventory. The top lenders to the company include HSBC, ABN AMRO Bank N.V.

and DBS Bank, with exposure of $598 million, $299 million and $288 million respectively. As of the quarter ended December 2019, ICICI Bank's net non-performing assets (NPA) stood at ₹10,388.50 crore and the gross NPA was ₹43,453.86 crore.

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