 "PNB, Punjab national bank")
Punjab National Bank’s (PNB) standalone net profit dropped 66 per cent year on year to Rs 201 crore in January-March as the lender sets aside Rs 325 crore on account of fraud.
The state-owned lender’s profit in the same quarter last year was Rs 586 crore. PNB, on Wednesday, reported a net profit of Rs 3,457 crore for FY22 as against a profit of Rs 2,022 crore posted a year ago.
PNB has availed dispensation from the Reserve Bank of India (RBI) for deferment of provision of Rs 1,302.41 crore in respect of frauds declared during the quarter. “Out of
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