NEW DELHI/MUMBAI Punjab National Bank (PNBK.NS) reported on Tuesday a fourth-quarter net profit of 2.62 billion rupees ($41 million) as its bad loans eased.Bad loans as a percentage of total loans eased to 12.53 percent at end-March, from 13.7 percent three months earlier, and 12.9 percent a year ago, the lender said in a statement.
New Delhi-based PNB, India's fourth-biggest lender by assets, had posted a net loss of 53.67 billion rupees in the year-ago quarter.
Shares in PNB rose more than 5 percent after the results.
($1 = 64.1200 Indian rupees) (Reporting by Manoj Kumar and Devidutta Tripathy; Editing by Subhranshu Sahu)
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Updated Date: May 16, 2017 22:33 PM