MUMBAI: Punjab National Bank (PNB) today reported a loss of ₹4,750 crore for the March quarter, bettering its performance from a year ago when it reported a loss of 13,417 crore. Fall in provisions, indicating better recovery, ample provisions and improving assets helped narrow the loss. PNB’s provisions declined to ₹7,611 crore in Jan-Mar, from ₹12,970 crore. The lender’s net interest income grew 37.1% from a year ago to ₹4,200 crore in the March quarter. Net interest margin, a key measure of profitability, rose to 2.45% from 1.90% in the March quarter of 2018.

Source: Mint May 28, 2019 07:39 UTC