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Punjab National Bank (PNB) has reported a net loss of Rs 5,367 crore for the March quarter.
This has been the biggest quarterly loss in India’s bank history.
The bank had posted a net profit of Rs 307 crore in the corresponding quarter of last year.
According to the bank, its gross non-performing assets (NPAs) surged to 12.9 percent in the fourth quarter compared to 8.47 percent in the December quarter.
In value terms, the gross non-performing assets for the quarter stood at Rs 55,818 crore compared to Rs 34, 338 crore in the third quarter.
