INSUBCONTINENT EXCLUSIVE:
PNB's provisioning for bad loans declined sharply in June quarter.Punjab National Bank (PNB) turned profitable in the April-June period on
account of lower provisioning for bad loans
The Delhi-based state-run lender on Friday reported a net profit of Rs 1,018.63 crore in the quarter ended June 30
For the quarter ended March 31, its net loss had come in at Rs 4,749.64 crore
net interest income, the difference between the interest earned and interest expended, declined 11.73 per cent to Rs 4,141.36 crore, from Rs
4,691.86 crore in the year-ago period.Its provisioning for bad loans declined sharply in the June quarter
PNB provided a provisioning of Rs 2,147.13 crore in the April-June period, as against Rs 9,153.55 crore in the previous quarter, and Rs
4,981.99 crore in the quarter ended June 30, 2018, according to the regulatory filing.However, PNB's asset quality deteriorated further
Its percentage of gross non-performing assets (NPA) came in at 16.49 per cent in the June quarter as against 15.50 per cent in the previous
quarter.Net non-performing assets (NPAs) rose to 7.17 per cent from 6.56 per cent in the previous quarter.At 2:06 pm, PNB shares traded 2.42
per cent higher at Rs 67.65 apiece on the BSE, outperforming the benchmark Sensex index which was flat amid a volatile session.Get Breaking
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