Reuters logo
Punjab National Bank posts fourth-quarter profit as bad loans ease
May 16, 2017 / 7:54 AM / 6 months ago

Punjab National Bank posts fourth-quarter profit as bad loans ease

NEW DELHI/MUMBAI (Reuters) - Punjab National Bank (PNBK.NS) reported on Tuesday a fourth-quarter net profit of 2.62 billion rupees ($41 million) as its bad loans eased.

A man exits Punjab National Bank's building as a stray dog walks past in Kolkata, India May 16, 2017. REUTERS/Rupak De Chowdhuri

Bad loans as a percentage of total loans eased to 12.53 percent at end-March, from 13.7 percent three months earlier, and 12.9 percent a year ago, the lender said in a statement.

New Delhi-based PNB, India’s fourth-biggest lender by assets, had posted a net loss of 53.67 billion rupees in the year-ago quarter.

Shares in PNB rose more than 5 percent after the results.

($1 = 64.1200 Indian rupees)

Reporting by Manoj Kumar and Devidutta Tripathy; Editing by Subhranshu Sahu

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below