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Last Updated : Feb 12, 2019 08:57 PM IST | Source: PTI

Punjab & Sind Bank Q3 net profit at Rs 22 crore

The bank's total income increased during the quarter to Rs 2,337.13 crore as against Rs 2,178.69 crore in the corresponding period of 2017-18.

 
 
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State-owned Punjab & Sind Bank on Tuesday reported a net profit of Rs 22 crore in the third quarter ended December 2018. It had reported a loss of Rs 258 crore in the corresponding period of 2017-18, according to a release by the company.

The bank's total income increased during the quarter to Rs 2,337.13 crore as against Rs 2,178.69 crore in the corresponding period of 2017-18.

Gross non-performing assets (NPAs) rose to 11.19 per cent of the gross advances at the end of the quarter, against 10.95 per cent in the year-ago period.

However, net NPAs declined to 6.90 per cent, compared with 7.20 per cent a year ago.

As a result, provisions for bad loans increased to Rs 453.88 crore during October-December 2018, against Rs 417.51 crore in the third quarter of the previous fiscal.
First Published on Feb 12, 2019 08:54 pm
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