Edition:
India

Punjab National Bank Expects To Bring Down Gross NPA By At Least 200 BPS In Current Qtr - CEO


Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Punjab National Bank CEO Sunil Mehta::CEO SAYS AS A STRATEGY, BANK TO FOCUS ON DOMESTIC BUSINESS, SHUN OVERSEAS BUSINESS.CEO SAYS BANK TO RECRUIT ABOUT 4000 TO 5000 EMPLOYEES.CEO SAYS BANK HAS MADE A PROVISION OF 3.31 BILLION RUPEES FOR SLIPPAGE IN IL&FS ACCOUNT.CEO SAYS CURRENT NPA IN MUDRA LOANS IS ABOUT 12 PERCENT, IN SMALL BUSINESS LOANS AROUND 14 PERCENT.CEO SAYS EXTENT OF SHARE SALE IN PNB HOUSING FINANCE TO DEPEND ON BID VALUE;LAST DATE FOR BIDS IS FEB 8.CEO SAYS EXPECT 10 PERCENT LOAN GROWTH IN NEXT FINANCIAL YEAR.CEO SAYS CO EXPECTS AT LEAST 25 PERCENT RECOVERY ON AVERAGE IN INSOLVENCY CASES.EXEC SAYS CO EXPECTS TO BRING DOWN GROSS NPA BY AT LEAST 200 BASIS POINTS IN CURRENT QUARTER.