PNB narrows Q4 loss to Rs 4,750 crore

PTI

Business, Companies

Stock of PNB traded at Rs 88.10 on BSE, down 1.34 per cent from its previous close.

The bank witnessed improvement with the gross NPAs reducing to 15.50 per cent of gross advances at end of March 2019.

New Delhi: State-owned Punjab National Bank on Tuesday said it has narrowed its loss to Rs 4,750 crore in the last quarter of the fiscal ended March 2019.

The scam-hit lender had posted a staggering loss of Rs 13,417 crore during the corresponding January-March period of 2017-18.

On assets front, the bank witnessed improvement with the gross non-performing assets (NPAs) reducing to 15.50 per cent of gross advances at end of March 2019, as against 18.38 per cent by March 2018.

Likewise, the net NPAs or bad loans were trimmed to 6.56 per cent against 11.24 per cent, the bank said here at a news conference.

Stock of PNB traded at Rs 88.10 on BSE, down 1.34 per cent from its previous close.

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