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PNB tops list of worst losses in Indian banking history

Punjab National Bank reported a net loss of Rs 5,367.14 crore for the fourth quarter ended March 2016 against net profit of Rs 306 crore in the same quarter a year ago.
•    Provisions of the bank jumped nearly 3 times, 173 per cent, to 10,485.23 crore for the quarter under review from Rs 3834.19 crore in the same quarter last year.
•    The asset quality of Punjab National Bank deteriorated as gross non-performing assets rose to 12.90 per cent of gross advances during the quarter, from 6.55 per cent in the year-ago period.
•    Gross NPAs were Rs 55,818.33 crore in the quarter against Rs 25,694.86 crore last year.
•    Bad loans as a percentage of net advances stood at 8.61 per cent during the last quarter of 2015-16, from 4.06 per cent year ago. 
•    Net interest margins of Punjab National Bank slid 27 per cent to Rs 2767.71 crore in Jan-Mar 2016 period against Rs 3791.58 crore in the same period last year.
•    For the full fiscal, the lender reported a net loss of Rs 3,974.39 crore compared with a net profit of Rs 3,061.58 crore in corresponding last fiscal.
•    At 12.47 am, shares of public sector bank erased their initial gains and were trading 0.07 per cent at Rs 73.85.
•    With this huge loss, Punjab National Bank is now among the several public sector banks that have reported losses due to bad loans. 
•    Syndicate Bank reported a net loss of Rs 2,158.17 for the quarter ending March 2016 due to more than three-fold rise in provisions for bad loans and contingencies. 
•    Bank of Baroda, UCO Bank, Central Bank of India, Allahabad Bank and Dena Bank have earlier reported losses due to bad loans.

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