Punjab National Bank logs loss of Rs 492 cr in Q3, asset quality improves

Point out loan provider Punjab Countrywide Bank Tuesday claimed a standlone web decline of Rs 492 crore in the December quarter of FY20 (Q3FY20) on account of larger provisions during the just lately concluded quarter. On the other hand, the bank’s asset top quality enhanced on, each, annually and sequential basis.

The bank’s gross non-carrying out property (GNPA) came in at Rs seventy six,809.20 crore for Q3FY20, down from Rs 77,733.33 crore claimed in the similar quarter past yr. Sequentially, the GNPAs declined from seventy nine,458.09 crore claimed in Q2FY20. The web NPA (NNPA), in the meantime, stood at Rs thirty,518.ninety two crore, down fourteen.four per cent YoY and 6.5 per cent QoQ.

In conditions of ratio, the GNPA for the just lately concluded quarter enhanced sequentially, but was flat YoY, to 16.three per cent. The NNPA ratio was 7.eighteen per cent.

The bank claimed fresh slippages of Rs 6,seven hundred crore in the December quarter of FY20. The provisions, on the other hand, came in at Rs four,146.04 crore, up from Rs 2,753.eighty four crore offered for in Q3FY19, and Rs 2,928.90 crore in Q2FY20.

On the draw back, the bank’s web decline stood at Rs 492.28 crore for the quarter finished December 31, 2019, as versus a gain of Rs 246.fifty one crore in the similar quarter past yr. Sequentially, the bank experienced logged a gain of Rs 507.05 crore in the September quarter of FY20.

Analysts at Prabhudas Lilladher, nonetheless, experienced projected a bounce of 162 per cent in the web gain at Rs 646.one crore for the just lately concluded quarter. “PNB, equivalent to other corporate banks, really should see reward from restoration from NCLT and slippages really should be marginally decreased as past quarter impression was from each day tagging of NPAs and that’s why credit history expense will come off and see advancement in provision protection ratio (PCR),” they experienced created in a outcomes preview observe.

That aside, the bank’s web desire earnings (NII) stood at Rs four,355.05 crore for the quarter below evaluation, up one.5 per cent YoY, from Rs four,290.05 crore attained in Q3FY19. It came in-line with the analysts’ estimates.

Analysts at Emkay World experienced envisioned the NII to increase marginally to Rs four,370.7 crore during the quarter below evaluation, up one.9 per cent YoY and 2.5 per cent QoQ.

At 2:19 pm, the inventory erased all the gains logged during the dya, and was investing one.22 per cent decreased at Rs fifty six.sixty five. Incomparison, the benchmark S&P BSE Sensex was ruling 2.fifteen per cent larger at forty,729.54 stage. In the intra-day trade, the inventory hit a substantial of Rs fifty eight.ninety five apiece.