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PNB puts Rs 4,518 crore towards bad loans in Q4FY20
Public lender Punjab National BankNSE 1.77 %
(PNB) posted a reduced standalone net loss of Rs 697 crore on Friday,
for the quarter ending March (Q4FY20) compared to a net loss of Rs 4,750
crore for the corresponding period last year.
India’s second-largest bank said the improvement was on account of a
substantial decrease in provisioning requirements. It had reported a
loss of Rs 492.28 crore for the December quarter.
However, the bank saw its profits decline 37.3 per cent in FY20 to Rs 14,739 crore when compared to the previous fiscal.
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