Punjab National Bank Q2 Profit Rises, Beats Estimates
India's state-run Punjab National Bank, the country's fourth-biggest lender by assets, reported a 2 percent rise in second-quarter profit, beating forecasts.
Net profit rose to Rs 5.61 billion ($86.87 million) for the quarter ended September 30 from Rs 5.49 billion a year earlier, the state-run bank said on Friday.
Analysts on average had expected a net profit of Rs 4.33 billion, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans stood at 13.31 per cent at end-September compared with 13.66 per cent at end-June quarter and 13.63 per cent a year earlier.
(Reuters)
