Punjab National Bank(PNB) scrips fall 3% on NPA divergence disclosure

Mumbai, Dec 16 (IANS) Shares of the state-run Punjab National Bank(PNB) on Monday fell nearly 3 per cent on the BSE after under it reported bad loans by Rs 2,617 crore for the last fiscal.

Gross non performing assets(NPA) according to the RBI, as on March 31 was Rs 81,089.70 but it was Rs 78,472.70 reported by PNB.

The divergence in provisioning for bad loans in FY19 was to the tune of Rs 2,091 crore.

Provision for NPAs as on March 31, 2019 as reported by the bank was 48,151.15 crore but the RBI's risk assessment report calculated it to Rs 50,242.15 crore.

Further, the PNB reported a loss was Rs 99,75.49 crore but RBI said after taking into account the divergence in provisioning it stood at Rs 11,335.90 crore for the last fiscal.