PNB posts Rs 4,532 cr loss in September quarter

Fraud-hit Punjab National Bank posted a staggering loss of Rs 4,532.35 crore for the second quarter ended September 30, 2018 on rising bad loans.

The state-owned bank had a net profit of Rs 561 crore in the July-September quarter of last fiscal 2016-17.

Its total income during the September quarter of 2018-19 declined to Rs 14,035.88 crore as against Rs 14,205.31 crore in the year-ago period, PNB said in a BSE filing.

The bank's gross non-performing assets (NPAs) as a proportion of gross advances rose sharply to 17.16 per cent (Rs 81,250.83 crore) at the end of September, from 13.31 per cent (Rs 57,630.11 crore) a year ago.