PNB puts 32 NPAs with outstanding loan of Rs 1,176 cr on block
Net NPAs stood at 9.16 per cent and 7.81 per cent as on June 30, 2016 and March 31, 2017, respectively.
New Delhi: State-owned Punjab National Bank (PNB) has put assets of as many as 32 bad loans with outstanding loan exposure of Rs 1,176 crore on the block in an effort to bring down its NPAs.
These non-performing assets (NPA), include Hanung Toys and Textile, Harbs India, United Foods, and Harman Textile. PNB has a total exposure of Rs 771.65 crore to the consortium that extended the loan to Hanung Toys and Textile, as per public auction notice put up by the bank.
The listed toys and textile company is the biggest defaulter in the list with consortium lending to the tune of Rs 2,960 crore. Assets owned by accounts would be e-auctioned on November 8, the notice said, adding auction would be conducted by Delhi zonal office.
For the quarter ended June 2017, the gross NPAs in absolute term stood at Rs 5,77,207 crore, while the net NPAs were Rs 3,45,727 crore.
In percentage terms, the gross non-performing assets (NPAs) declined marginally to 13.66 per cent of gross advances as on June 30, 2017 from 13.75 per cent a year earlier. However, on a sequential basis, gross NPAs increased from 12.53 per cent as on March 31, 2017.
Net NPAs came down, both yearly and sequentially, to 8.67 per cent of the net advances. Net NPAs stood at 9.16 per cent and 7.81 per cent as on June 30, 2016 and March 31, 2017, respectively.
The provisioning to cover bad loans also came down to Rs 2,559.71 crore from Rs 3,165.67 crore parked aside in the June quarter of the previous fiscal.