Punjab National Bank
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[http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=PNBs-Rs-5367cr-Q4-loss-bigges-or-Indian-19052016001052 ''The Times of India''], May 19 2016 | [http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=PNBs-Rs-5367cr-Q4-loss-bigges-or-Indian-19052016001052 ''The Times of India''], May 19 2016 | ||
Revision as of 14:08, 16 February 2018
This is a collection of articles archived for the excellence of their content. |
Losses
Q4/ 2016: highest loss in Indian banking history
The Times of India, May 19 2016
PNB's Rs 5,367cr Q4 loss bigges or Indian bank
Punjab National Bank, the third largest state-run lender, reported record quarterly losses of Rs 5,367 crore for the three months ended March, and it set aside more funds for potential losses from bad debt.
Bank MD and chief ex ecutive Usha Ananthasubramanian said the bank had seen a three-fold jump in provisions for non-performing assets, which added up to Rs 11,380 crore. This included Rs 385 crore for electricity distribution firms, whose loans have been restructured under a scheme overseen by the government, and Rs 166 crore loans extended to Punjab for foodgrains.
