PNB Has Earned Tremendous Profits in Q3 (2018-19)

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@ Vikas Sharma | Sr. Journalist

New Delhi: Punjab National Bank (PNB) has unearthed a scam of around Rs 14,000 crore. In the third quarter of the current financial year, the bank has made tremendous profit.

PNB has earned a profit of Rs 246.51 crore in the 3rd quarter ending in December 2018. This profit is 7.12 per cent more than the same quarter in previous year, when the bank earned a profit of Rs 230.11 crore.

The bank’s NPA has also decreased in comparision to the 2ndvquartee ending in September. In December, the gross NPA of the bank declined to 1.33%, which was earlier 17.16% in the previous quarter. This figure was 12.11 percent in the same quarter last year.

In the December quarter, the bank provisioned loan of Rs 2,753.84 crore, which is much less than the September quarter. In September, the bank had provisioned loan of Rs 9,757.90 crore.

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