MUMBAI Indian state-run Punjab National Bank (PNB) reported on Saturday an 11.5 percent fall in second-quarter net profit, while its bad-loan ratio improved slightly from the previous quarter.Net profit was 5.49 billion rupees ($82.2 million) for the three months to Sept. 30, compared with 6.21 billion rupees a year ago.Analysts, on average, had expected a net profit of 4.84 billion rupees, according to Thomson Reuters data.
Gross non-performing loans as a percentage of total loans fell to 13.63 percent as of end-September, from 13.75 percent at end-June.
($1 = 66.7855 Indian rupees)
(Reporting by Sankalp Phartiyal and Devidutta Tripathy; Editing by Jacqueline Wong)
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Published Date: Nov 05, 2016 02:54 pm | Updated Date: Nov 05, 2016 02:54 pm