Karnataka Bank Does Not Have Exposure To Coffee Day Enterprises

Mangaluru, July 30 Karnataka Bank Ltd has said that it does not have any exposure to Coffee Day Enterprises Ltd.

In a statement to stock exchanges on Tuesday, the bank clarified that it does not have any exposure to Coffee Day Enterprises Ltd, an entity listed on BSE Ltd and NSE.

“However, Coffee Day Global Ltd, one of the unlisted group companies (erstwhile Amalgamated Bean Coffee Ltd, a customer of the bank since 1996), is enjoying credit facilities with the present outstanding of ₹152.48 crore constituting 0.29 per cent of the total advances of the bank. The above facilities are fully secured by collaterals of properties besides primary securities. All the loan accounts are regular as on date,” it said.