PNB NPA

The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag

PNB's total income during July-September 2022 was Rs 23,001.3 crore as against Rs 21,262.3 crore a year ago

State-owned Punjab National Bank (PNB) has put up for sale its NPA account Apollo Distilleries & Breweries with loan outstanding of nearly Rs 44 crore due against the company. Inviting asset reconstruction companies (ARCs) to put their bids for transferring the loan account of Apollo Distilleries & Breweries, the city-based lender said it will expedite the due diligence process and make available the documents at one place for verification of the prospective buyer. However, PNB said it will be at its sole discretion to withdraw the account offered for transfer, without assigning any reasons. The last date of submission of expression of interest is August 31, 2022 while the due diligence is to be completed by September 7, said the lender. The tentative date of e-bidding, to happen on a 100 per cent cash basis, is September 12. A subsidiary of Chennai-based Empee Distilleries Ltd (EDL), Apollo Distilleries and Breweries (ADPL) owns and operates a distillery plant with an ...

The gross NPAs declined to 11.2% of the gross advances by June 2022 from 14.33% a year ago. It was at 11.78% as of March 2022

The Bank has already made provisions amounting to Rs 215.21 crore, as per prescribed prudential norms, the state-owned lender clarified.

The remaining amount will be covered in the three quarters of the current fiscal year