State-owned Punjab & Sind Bank on
Wednesday reported a net loss of Rs 398 crore in first quarter ended June as
provisioning for bad loans increased significantly.It had reported
a net profit of Rs 25.37 crore in the same period a year ago. In the preceding
quarter ended March 2018, it had a net loss of Rs 524.62 crore, a dip in losses
when compared sequentially.
For the entire
2017-18, the bank had posted a net loss of Rs 743.80 crore due to high
proportion of bad loans.The bank in a
regulatory filing said that the total income in April-June period of 2018-19
stood at Rs 2,336 crore, higher than Rs 2,062.57 crore in the same period of
2017-18.
For the June quarter, bank's provisioning for bad loans (or non-performing
assets) shot up to Rs 795.38 crore as against Rs 259.20 crore set aside for the
same period of the fiscal ended March 2018.
However, the
bank brought down the proportion of soar assets with the gross NPAs falling to
10.55 percent of gross advances as on June 30, 2018 from 11.33 percent in year
ago corresponding quarter.In value terms,
gross NPAs stood at Rs 7,363.41 crore by end June this year as against Rs
6,693.36 crore. Net NPAs were
5.92 per cent (Rs 3,928.81 crore) as against 7.94 per cent (Rs 4,511.40 crore).
.jpeg)
No comments:
Post a Comment