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PNB Q1 net profit falls 70% to Rs 308 crore, asset quality improves

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

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Press Trust of India New Delhi

2 min read Last Updated : Jul 28 2022 | 10:54 PM IST

State-owned Punjab National Bank on Thursday reported a 70 per cent decline in standalone net profit to Rs 308.44 crore in the June quarter, mainly due to higher provisioning for bad loans and decline in interest income.

The bank had posted a net profit of Rs 1,023.46 crore in the year-ago period.

Total income in the first quarter of the current fiscal fell to Rs 21,294 crore. In the year-ago period, it was at Rs 22,515 crore, according to a regulatory filing.

The lender's interest income fell to Rs 18,757 crore from Rs 18,921 crore in the same quarter a

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : PNB PNB NPA

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