Punjab National Bank posts biggest ever quarterly loss of Rs 13,417cr in Q4
Tuesday, May 15, 2018 IST
PNB has witnessed deterioration in gross net performing assets (NPAs) or bad loans, which rose to 18.38% of gross advances at the end of March this year, as against 12.53% a year ago.
The scam-hit Punjab National Bank (PNB) on Tuesday posted its largest ever quarterly loss of Rs 13,416.91 crore for the January-March period, mainly on account of high provisioning for bad loans.
The bank had reported a staggering standalone profit of Rs 261.90 crore in the fourth quarter of 2016-17. The total income for the fourth quarter also declined to Rs 12,945.68 crore from Rs 14,989.33 crore in the year-ago period.
The bank has witnessed deterioration in gross net non-performing assets (NPAs) or bad loans, which rose to 18.38% of gross advances at the end of March this year, as against 12.53% a year ago. Net NPAs also soared to 11.24% against 7.81% a year ago.
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