InvestorQ : Is PNB a stock to buy after it reported lower losses in the Mar-20 quarter?
Dawn Cherian made post

Is PNB a stock to buy after it reported lower losses in the Mar-20 quarter?

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Dilmini Mercia answered.
4 months ago
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PNB reported reduced losses for the Mar-20 quarter. The loss was Rs.697 crore in the Mar-20 compared to a loss of Rs.4750 crore in Mar-19. The good news is that even the gross NPAs of the bank have marginally improved from 15.5% last year to 14.21% this year. Net NPAs were lower by 140 basis points at 5.78%.

Nearly 80% of the bad loans are provided for. PNB witnessed growth of 4.9% in domestic deposits at Rs.686,493 crore and 1.1% increase in domestic advances to Rs.495,045 crore. But it may too early to take a buy call on PNB.

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