Punjab National Bank posts biggest ever quarterly loss of 13,417cr in Q4

Updated on May 15, 2018 04:13 PM IST

PNB has witnessed deterioration in gross net performing assets (NPAs) or bad loans, which rose to 18.38% of gross advances at the end of March this year, as against 12.53% a year ago.

PNB had reported a staggering standalone profit of <span class='webrupee'>₹</span>261.90 crore in the fourth quarter of 2016-17. The total income for the fourth quarter also declined to <span class='webrupee'>₹</span>12,945.68 crore from <span class='webrupee'>₹</span>14,989.33 crore in the year-ago period.(Reuters/Picture for representation)
PNB had reported a staggering standalone profit of 261.90 crore in the fourth quarter of 2016-17. The total income for the fourth quarter also declined to 12,945.68 crore from 14,989.33 crore in the year-ago period.(Reuters/Picture for representation)
Press Trust of India, New Delhi | By

The scam-hit Punjab National Bank (PNB) on Tuesday posted its largest ever quarterly loss of 13,416.91 crore for the January-March period, mainly on account of high provisioning for bad loans.

The bank had reported a staggering standalone profit of 261.90 crore in the fourth quarter of 2016-17. The total income for the fourth quarter also declined to 12,945.68 crore from 14,989.33 crore in the year-ago period.

The bank has witnessed deterioration in gross net non-performing assets (NPAs) or bad loans, which rose to 18.38% of gross advances at the end of March this year, as against 12.53% a year ago. Net NPAs also soared to 11.24% against 7.81% a year ago.

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