PNB posts biggest quarterly loss in Indian bank history
The bank had posted a net profit of 307 crore in 2015 March quarter.
The lender's asset quality deteriorated with gross non-performing assets increasing to 12.90 per cent of gross advances during the reported quarter, from 6.55 per cent in the same quarter of the previous year.
Gross NPAs were Rs 55,818.33 crore in the latest March quarter against Rs 25,694.86 crore last year.
Net NPAs or bad loans as a percentage of net advances stood at 8.61 per cent in the reported quarter from 4.06 per cent year ago and from 5.86 per cent reported in the immediately preceding December quarter
For the full fiscal, PNB reported a net loss of Rs 3,974.39 crore compared with a net profit of Rs 3,061.58 crore in in the previous fiscal year.
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