New Delhi: Punjab National Bank on Tuesday posted a loss of Rs 4,750 crore for the last quarter of the fiscal ending March 2019.The bank had reported a profit of Rs 297 crore in the previous quarter but narrowed it losses by around 65% as compared with highest ever loss of Rs 13,417 crore in the corresponding January-March period of 2017-18.PNB’s managing director Sunil Mehta said that the bank has made 75% provisioning for all its net bad loans. In absolute-value, gross NPAs stood at Rs 78,472.70 crore at end of fiscal 2018-19, lower than Rs 86,620.05 crore reported in 2017-18.Mehta observed that PNB has factored in entire IL&FS slippages, and also made provisions for Jet Airways although the account is standard (as on March 2019). Fresh slippages came down significantly to Rs 5130 crore during the quarter as against Rs 30,377 crore in the same period a year ago.The provisioning coverage ratio (PCR) as on March 31, 2019 works out to 74.50 per cent from 58 per cent at the end of 2017-18.“Now the focus area would be recovery of NPAs, conservation of capital, rationalising operation and sale of non-core assets among others,” said Mehta adding that PNB is expecting around Rs 1,000 crore from such stake sale. "We are yet to take a call on PNB Housing Finance stake sale it will all depend on market conditions," he added.On proposed merger talks, Mehta said "right now we have not thought of it, neither any proposal has come to us. As the situation comes we will take a call."

Source: Economic Times May 28, 2019 08:02 UTC