Press Trust of India / New Delhi Mar 16, 2009, 20:27 IST
Leading public sector lender Punjab National Bank (PNB) has incurred mark-to-market losses to the tune of Rs 150-200 crore in the fourth quarter so far.
Mark-to-market losses refers to losses incurred on the basis of current value of financial assets.
"The mark-to-market losses of PNB in (Q4 so far) are Rs 150- 200 crore," said a senior bank official today.
The bank, the official said, has also paid Rs 470 crore by way of advance payment of taxes in the fourth quarter against Rs 175 crore in the same period a year ago.
PNB's net profit was up 85.61 per cent at Rs 1,005.8 crore in third quarter of the fiscal.
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