Punjab National Bank (PNB) posted record losses at Rs 134 billion in the March 2018 quarter (Q4) which was way higher than the Rs 26-27 billion analysts had estimated. Moreover, for the first time, PNB posted Rs 4.5 billion of operating losses.
With higher slippages of Rs 310 billion (extrapolated from the difference between the 9- months December 2017 and FY18 slippages) resulting in interest reversal, the bank’s net interest income (difference between interest earned and expensed) declined sharply by 16.8 per cent year-on-year in Q4. This, along with a sharp rise in ...
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First Published: Wed, May 16 2018. 02:16 IST
