InvestorQ : How do you view the results of Punjab National Bank in the latest quarter?
Mitali Bhutta made post

How do you view the results of Punjab National Bank in the latest quarter?

Answer
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2 months ago


PNB reported standalone net profits of Rs.308.45 crore in the Jun-20 quarter, nearly 70% lower than the year-ago period. Net interest income or NII of the bank stood at Rs.6749 crore a spike of more than 60% from previous year levels.

However, the gross NPAs or non performing assets of PNB for the Jun-20 quarter soot at 14.11%, which is still very high by banking standards. The good news could be that with net NPAs at 5.39% most of the potential losses may be already written off and provided for.

The bigger challenge for PNB would be to keep the NPAs under check in future and also reduce the number of frauds in the bank. In the last few years, this is one bank that has seen a record number of frauds including cases like Nirav Modi and Mehul Choksi.