PNB posts largest ever quarterly loss of Rs 13,416.91 crore
PNB posts largest ever quarterly loss of Rs 13,416.91 crore
Punjab National Bank posted largest ever quarterly loss of Rs 13,416.91 crore for January-March period, on Tuesday morning.
In the fourth quarter of 2016-17, the bank had reported standalone profit of Rs 261.90 crore. 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 performing assets (NPAs) or bad loans, that rose to 18.38 per cent of gross advances at the end of March this year.
-PTC News
