Scam-hit Punjab National Bank reported a ₹13,416 crore loss in the fourth quarter of 2017-18, compared with a ₹262 crore profit a year earlier. A significant reason for the large loss was the rise in provisions to ₹20,353.1 crore in the quarter ended March, compared with ₹5,753.51 crore a year earlier, according to the bank’s filing with the stock exchanges. PNB’s gross non-performing assets grew to ₹86,620.05 crore in the quarter from ₹55,370.45 crore in the same period of the previous year, and ₹57,519.41 crore in the quarter ended December 2017. Hence, gross NPA ratio rose to 18.38% in the quarter ended March , from 12.53% a year earlier. Betting on systems“Several steps are in the pipeline or have already been initiated by the bank to reduce dependence on human intervention,” PNB said in a release.

Source: The Hindu May 15, 2018 10:30 UTC