India's Punjab National Bank Q2 profit rises, beats estimates

Friday, November 3 2017

India's Punjab National Bank Q2 profit rises, beats estimates India's Punjab National Bank Q2 profit rises, beats estimates Source : Last 12:40 hrs
Nov 3 (Reuters) - India's state-run Punjab National Bank , the country's fourth-biggest lender by assets, reported a 2 percent rise in second-quarter profit, beating forecasts.
Net profit rose to 5.61 billion rupees ($86.87 million) for the quarter ended Sept 30 from 5.49 billion rupees a year earlier, the state-run bank said on Friday. (http://bit.ly/2h9nRzR)
Analysts on average had expected a net profit of 4.33 billion rupees, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans stood at 13.31 percent at end-September compared with 13.66 percent at end-June quarter and 13.63 percent a year earlier. ($1 = 64.5800 Indian rupees) (Reporting by Samantha Kareen Nair in Bengaluru; Editing by Sunil Nair) SEARCH