NPA provisioning effect: Union Bank, UCO in red; PNB net sees rise in Q2

The provision coverage ratio (PCR) stood at 56.06% at the end of September 2017

Weighed down by provisions for bad loans, bottom-line of three public lenders —  Punjab National Bank (PNB), Union Bank of India and UCO Bank — remained under pressure in the second quarter ended September 2017 (Q2FY18). While PNB reported a marginal rise in net profit, Union Bank and UCO Bank were in red. It was the first ever quarterly loss for Union Bank of India.

PNB, the Delhi-based lender, posted a 2.2 per cent rise in net profit to Rs 561 crore for the September quarter as it trimmed bad loans and contained slippages. It reported a net profit of Rs