Punjab Nationwide Financial institution (PNB) on Saturday reported a standalone web revenue of Rs 336 crore in FY20 as in opposition to a web lack of Rs 9,975 crore within the earlier fiscal. Complete revenue for FY20 grew 7.5 per cent at Rs 63,074 crore, PNB mentioned in an change submitting. A 37 per cent fall in provisions to Rs 14,402 crore boosted the revenue. Working revenue rose at 13.four per cent to Rs 14,739 crore in FY20.
In This fall, standalone web loss narrowed to Rs 697.20 crore resulting from decrease provisioning in opposition to dangerous loans. The second largest public sector lender had posted a lack of Rs four,750 crore within the corresponding interval of 2018-19. The whole revenue throughout the March quarter rose to Rs 16,388.32 crore from Rs 14,725.13 crore within the year-ago interval within the quarter beneath overview. The gross non-performing property (NPAs) diminished to 14.21 per cent in This fall, in comparison with 16.three per cent within the earlier quarter.
“The most important recognized problem for the financial institution would come up from eroding money flows and prolonged working capital cycles. The financial institution is gearing itself on the fronts to satisfy these challenges. The administration believes that no changes are required within the monetary outcomes because it doesn’t considerably influence the present monetary yr,” PNB mentioned in a regulatory submitting on Friday. The supply protection ratio of the financial institution stood at 77.79 per cent as of March 31.
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