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PNB reports Rs 5367 cr loss in Q4 as bad loans surge

Gross bad loans as a percentage of total loans rose to 12.9% in March from 8.47% in December

Reuters  |  Mumbai | New Delhi 

Punjab National Bank (PNB) reported a fourth-quarter net loss of 5367 cr rupees as the nation's fourth-biggest state-run lender by assets set aside more funds to cover a jump in bad loans. Provisions, including for loan losses, nearly tripled from a year earlier to 10485 cr rupees in the March quarter, the New Delhi-based lender said in a regulatory filing. Gross bad loans as a percentage of total loans rose to 12.9 per cent in March from 8.47 per cent in December, and 6.55 per cent a year earlier. Indian banks have seen a surge in bad loans after a clean up ordered ...

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First Published: Wed, May 18 2016. 13:30 IST
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