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Punjab National Bank becomes profitable in June quarter, share prices up by 5%

Net non-performing assets (NPAs) rose to 7.17 per cent from 6.56 per cent in the previous quarter.

By Newsd
Updated on :

The second-largest public sector bank, Punjab National Bank turned profitable in the April-June quarter following the lower provisioning for bad loans.

The consolidated net profit of the bank increased to Rs 1,018.63 crore. PNB had registered a net loss of Rs. 940 crore in the Q1FY19. The share price of PNB was at Rs 67.45 per share on the NSE, higher by 5.45 percent.

Net non-performing assets (NPAs) rose to 7.17 per cent from 6.56 per cent in the previous quarter.

At 2:34 pm, PNB shares traded at Rs. 68.35 apiece, 2.30 per cent higher on the BSE.

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