PNB posts Rs 940 crore loss in Q1

New Delhi: Fraud-hit Punjab National Bank (PNB) on Tuesday reported a loss of Rs 940 crore for the June quarter of 2018-19.

The public sector bank had posted a net profit of Rs 343.40 crore in the April-June quarter of 2017-18. Total income of the bank rose to Rs 15,072 crore from Rs 14,468.14 crore in the year-ago period.

PNB also reported a decline in its bad assets metrics, with gross non-performing assets (NPAs) rising to 18.26 per cent of gross advances as on June 30, 2018.