Punjab National Bank (PNB) Posts net loss

Punjab National Bank (PNB) on Tuesday posted a net loss of Rs 4,750 crore for the (Q4) quarter ended March 31, 2019.

Improving its performance from a year ago when it reported a loss of 13,417 crore. Enough provisions and improving assets helped Limit the loss.

The provisions for the recently ended quarter were Rs 7,611 crore .

The same were Rs 20,353.1 crore in Q4FY18 and Rs 2,753.8 crore in Q3FY19.

Net NPA ratio stood at 6.56 percent against 8.22 percent in the previous quarter of FY19.

Gross NPA ratio came in at 15.5 percent against 16.33 percent in the December quarter of FY19.

The lender’s net interest income grew 37.1% from a year ago to Rs.4,200 crore in the March quarter.

Domestic net interest margin a key measure of profitability rose to 2.45 per cent against 2.64 per cent QoQ.

Although the bank had suffered a net loss last financial year 2017-18, When 14,000 crore fraud was uncovered, Which Involved jewelers Mehul Choksi and Nirav Modi Last year January, 2018. After which ,Punjab National Bank (PNB) reported losses in three successive quarters starting January-March (2017-18).

Shares of PNB Plunged & traded lower by 4.31% at Rs.85.40 on the National Stock Exchange (NSE).

Leave a Reply

Close Menu