Shares of Punjab National Bank (PNB) fell 1.48% to Rs 56.50 after the bank reported a net loss of Rs 492.28 crore in Q3 December 2019 compared with a net profit of Rs 246.51 crore in Q3 December 2018.
Total income rose 7.5% to Rs 15,967.49 crore in Q3 December 2019 from Rs 14,854.24 crore in Q3 December 2018. The result was announced during trading hours today (4 February).The bank reported a pre tax loss of Rs 383.14 crore in Q3 2019 as against pre tax profit of Rs 346.02 crore in Q3 2018.
Gross non-performing assets (NPAs) stood at Rs 76,809.20 crore as on 31 December 2019 as against Rs 79,458.09 crore as on 30 September 2019 and Rs 77,733.33 crore posted in 31 December 2018.
The ratio of gross NPAs to gross advances stood at 16.3% as on 31 December 2019 as against 16.76% as on 30 September 2019 and 16.33% as on 31 December 2018. The ratio of net NPAs to net advances stood at 7.18% as on 31 December 2019 as against 7.65% as on 30 September 2019 and 8.22% as on 31 December 2018.
Provisions and contingencies (excluding tax provisions) jumped 50.55% to Rs 4,146.04 crore in Q3 December 2019 over Q3 December 2018.
Provision coverage ratio of the bank was at 75.27% as on 31 December 2019.
Punjab National Bank is a public sector bank. Government of India held 83.19% stake in the bank as on 31 December 2019.
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