 "PNB, Punjab national bank")
Punjab National Bank’s (PNB) standalone net profit plunged 70 per cent year-on-year (YoY) to Rs 308.4 crore in April-June quarter as provisions for bad loans went up. Sequentially, net profit of the Delhi-based lender jumped 53 per cent from Rs 201.5 crore reported in January-March.
To be sure, the state-owned lender had reported a Rs 1,023 crore profit in April-June 2021 on account of healthy cash recovery and upgrade of Rs 8,270 crore.
PNB’s total income during April-June 2022 was Rs 21,294 crore as against Rs 22,816 crore a year ago, the lender said in an exchange filing. The lender’s
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