Punjab National Bank Posts Loss Of Rs. 4,750 Crore In March Quarter
An astonishing disclosure by PNB: Loss of Rs 13,417 crore during the corresponding January-march of 2017-2018.
Punjab national bank, states that its loss narrowed down from Rs. 13,417 crore to Rs 4,750 in the quarter ended March 2019. There is a drop in the provision of bad loans to Rs. 9,153.55 from provisioning for non-performing assets (NPA) of Rs. 16,202.82 crore in the March quarter of 2018. Despite that, the provisions on sequential basis have crossed over three times from Rs.2,565.77 crore in December quarter.
The net interest income of Punjab National Bank’s or the difference between earned interest and expended interest rose up to 37 percent to Rs. 4,200 crore versus Rs. 3,063.36 crore during the same quarter last year.
In Punjab national bank, the quality of gross non- performing assets has improved in the percentage of total advances came in at 15.50 percent compared with 16.33 percent in the previous quarter.
As a percent of total advances, the net non- performing assets came in at 6.56 percent compared with 8.22 percent in the previous quarter. In the regulatory filing, PNB added that during the quarter PNB restructured 13,682 MSME accounts worth Rs. 622 crore.