GNP records earnings of Rs 507 crore in the second quarter

NEW DELHI: Punjab National Bank ( GNP ) reported on Tuesday a profit of Rs 507.06 rupees for the second quarter that ended on September 30.

The state lender had published a loss of Rs 4,532.35 crore during the same quarter a year ago.

The bank's total income during July-September quarter rose to Rs 15,556.61 crore as against Rs 14,035.88 crore in the same quarter last year, GNP said in a regulatory filing.

Gross non-productive assets accounted for 16.76 percent of gross advances at the end of September, lower than 17.16 percent a year ago.

Provisions for bad loans decreased sharply to Rs 3,253.32 million in the quarter, compared to Rs 7,733.27 in July-September 2018.

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