PNB’s Q1 standalone net profit up 12%

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Mumbai, Aug 2 (IANS) State-owned Punjab National Bank (PNB) on Wednesday reported a 12.09 per cent increase in the standalone net profit for the first quarter (Q1) of 2017-18.

According to the bank, its standalone net profit during the quarter under review stood at Rs 343.40 crore as compared to Rs 306.36 crore in the corresponding period of 2016-17.

The lender’s total income during the quarter under review rose by 7.37 per cent to Rs 14,468.14 crore from Rs 13,475.41 crore earned during Q1 of FY17.

The amount of gross non-performing assets (NPAs) of the bank stood at Rs 57,720.70 crore in the April-June period in 2017-18 as compared to Rs 56,654.09 crore in the corresponding period in the previous fiscal.

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