Punjab National Bank records net loss at Rs 697 crore in Q4

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Punjab National Bank

India-based public lender Punjab National Bank (PNB) has recorded a net loss of Rs 697.20 a crore in the fourth quarter.

In a filing with the stock exchange, PNB said, “The bank has reported a fall in its standalone net loss at Rs 697.crore in the quarter ended March 2020 as compared to Rs 4,749.64 crore for the same quarter last year.”

“The net Non-Performing Assets (NPA) has been reduced to 5.78 percent as against 7.18 percent as in December 2019 and 6.56 percent as in March 2019,” the filing added.

Adding to the filing, the bank said, “The asset quality of the company has also improved as NPA was at 14.21 percent for the quarter ended March 2020 versus 15.50 percent YoY, and the provision coverage ratio (PCR) has improved to 77.79 percent from 74.50 percent YoY.”

“The domestic deposits of the bank increased by 4.9 percent YoY to Rs 6,86,493 crore, and domestic advances increased by 1.1% YoY to Rs 4,95,045 crore,” the bank added.

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