PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr
Total income rose to Rs 24,292.80 crore during the June quarter of 2020-21, as against Rs 15,161.74 crore in the same period of the previous fiscal
 "PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr")
premium
State-owned Punjab National Bank (PNB) on Friday reported a standalone net profit of Rs 308 crore for the quarter ended June.
The country's second-largest lender had posted a net profit of Rs 1,018.63 crore during the corresponding April-June period of 2019-20.
The numbers are not comparable as the bank merged Oriental Bank of Commerce and United Bank of India with itself effective April 1, 2020, PNB said in a regulatory filing.
Total income rose to Rs 24,292.80 crore during the June quarter of 2020-21, as against Rs 15,161.74 crore in the same period of the previous fiscal.
On the assets front, the lender's gross non-performing assets (NPAs) fell to 14.11 per cent of gross advances at the end of June 2020, as against 16.49 per cent at the end of June 2019.
Net NPAs declined to 5.39 per cent as against 7.17 per cent earlier.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%