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PNB posts net loss of Rs 13,417 crore for Q4

IANS  |  Mumbai 

The multi-crore fraud hit posted a net loss of Rs 13,417 crore for the fourth quarter (January-March) of 2017-18, a regulatory filing by the company on the BSE stated on Tuesday.

The company had posted a net profit of Rs 262 crore for the corresponding quarter in 2016-17.

The gross non-performing assets (NPA) of the company stood at 18.38 per cent for the fourth quarter of 2017-18 compared to 12.53 per cent during the corresponding quarter in 2016-17.

The has made provisions and contingencies worth Rs 20,353.10 crore for the fourth quarter while it was Rs 4,466.68 crore for the October-December quarter of 2017-18.

Regarding the multi-crore fraud that came to light under the Q4, the said: "The fraud is under investigation by various central investigating agencies."

The CBI on Monday filed a chargesheet against MD and and 21 others, including 11 bank officials, in the over Rs 13,000 crore fraud case in which diamantaire and his uncle were allegedly involved.

The agency also named Directors and Sanjiv Sharan, and (who dealt in international operations) and in its chargesheet filed in a special here.

CBI officials said the chargesheet names and his brother in connection with the issuance of Letters of Undertaking totalling Rs 6,498.20 crore during 2011-17.

--IANS

ag/mr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 16:06 IST
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