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Tuesday, May 15, 2018

PNB Reported net loss 13416.91 cr with net NPA 11.24%

Punjab National Bank has reported a net loss of Rs 13,416.91 crore for the fourth quarter ending March 2018.
The profit was dragged by spike in provisions by three times towards bad loans, which was taken upfront during the quarter.
For the full year ending March 2018, PNB’s net loss stood at Rs 12,130 crore as against a net profit of Rs 1187 crore in FY17.
Gross non-performing assets (GNPAs) worsened substantially to 18.38 percent as on March-end 2018 as compared to 12.11 percent in December 2017 and 12.5 percent as on March-end 2017.
Net NPA ratio also deteriorated to 11.24 percent from 7.55 percent in the previous quarter and 7.81 percent in the year-ago period.
In absolute terms, gross NPAs jumped significantly to Rs 86,620 crore, up from Rs 57,519 crore in the December quarter.
Net NPAs were at Rs 48,684 crore as on March end 2018, up from Rs 34,075 crore in December.

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