Aiming to recover Rs 5,000 cr, bring net NPAs under 4.5% by March: PNB MD

The lender is also looking to further monetise its 15% stake in UTI AMC as part of its non-core asset sale plan to shore up its capital base.

The second largest state-owned lender Punjab National Bank (PNB) is targeting to bring down its net non-performing assets (NPA) below 4.5 per cent by March 2022 from 4.9 per cent currently, on the back of Rs 5,000 crore recovery during the ongoing Jan-March quarter, MD and CEO S S Mallikarjuna Rao said. The bank is also targeting "on a conservative level" to bring down gross NPAs under 12 per cent from 12.88 per cent reported in the December quarter.

The lender is expecting recoveries to the tune Rs 5,000 crore in the ongoing quarter from cases that are being resolved