PNB reports biggest loss in Indian banking history

As far as asset quality concerned, Gross Non-Performing Assets rose to 12.90 per at the end of March, from 6.55 per cent a year ago.

Public sector lender PNB on Wednesday reported a net loss of Rs 5,367.14 crore for the fourth quarter ended March 31, on account of higher provisioning for bad loans.

Punjab National Bank (PNB) had posted a net profit of Rs 306.56 crore in the corresponding period of the previous fiscal.

The total income during the quarter decreased 1.33 per cent to Rs 13,276.19 crore from Rs 13,455.65 crore a year ago.

The provisioning for NPAs grew almost threefold to Rs 10,485.23 crore in the fourth quarter compared with Rs 3,834.19 crore in the previous fiscal.

As far as asset quality concerned, Gross Non-Performing Assets (NPAs) rose to 12.90 per at the end of March, from 6.55 per cent a year ago. Net NPAs too jumped to 8.61 per cent as against 4.06 per cent.

For the full fiscal, the lender reported a net loss of Rs 3,974.39 crore compared with a net profit of Rs 3,061.58 crore in corresponding last fiscal.

The total income during the year rose to Rs 54,301.37 crore as against Rs 52,206.09 crore in the previous fiscal.

PNB's shares were trading 0.34 per cent higher at Rs 74.05 on BSE.