Punjab National Bank's standalone Q4FY20 net loss narrows to Rs 697 cr

State-run lending major Punjab National Bank's standalone Q4FY20 net loss narrowed to Rs 697.20 crore. The bank had posted a loss of Rs 4,750 crore during the fourth quarter of the previous fiscal.

In the quarter under review, PNB's total provision was down to Rs 4,629 crore against Rs 7,611 crore on this account for the same period a year ago.

Similarly, the NPA or bad loan provision for the quarter was down Rs 4,618 crore from Rs 9,154 crore reported for corresponding period of previous fiscal.

However, the bank's net interest income, was up 11.4 per cent in Q4FY20 to Rs 4,678 crore from Rs 4,200 crore reported for the corresponding period of tthe previous year.

For the fiscal year 2019-20, the bank posted a profit of Rs 336 crore from a loss Rs 9,975 crore reported for the previous fiscal.