PNB Net Profits Better Than Estimates: Asset Quality Improves

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Friday, November 3, 2017, 13:08 [IST]

Punjab National Bank has reported a net profit of Rs 560 crores for the quarter ending Sept 30, 2017, as against Rs 549 crores in the corresponding period of last year.

Net interest at the bank grew to Rs 4,015.2 crore, with total advances growth of 4.2 percent at Rs 4.1 lakh crore. Gross non performing assets as a percentage of gross advances were lower at 13.31 percent compared with 13.66 percent in the previous quarter.

Quarterly numbers of PSU banks are eagerly awaited these days to see if there is any improvement in asset quality. Shares of some of these banks have rallied sharply following the capital infusion plans by the government.

Shares of PNB were up 2 per cent at Rs 202 on the NSE. Check stock quote of PNB here

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