Punjab National Bank (PNB) plans to sell its real estate assets in central Delhi in order to monetize its real estate portfolio. The bank’s units which are currently part of the headquarters are spread across various locations. PNB will relocate its headquarters to its new building in Dwarka. The bank would also auction some its realty assets in Kanpur and Gorakhpur in Uttar Pradesh and some properties in Kerala. PNB is also planning to recover Rs 3,000 crore from among its bad loans by selling these to asset reconstruction companies (ARCs).
The bank has reported a fall of 57.49% in its net profit at Rs 306.36 crore for the quarter ended June 30, 2016 as compared to Rs 720.71 crore for the same quarter in the previous year. However, total income of the bank increased by 3.71% to Rs 13930.00 crore for the quarter under review, from Rs 13432.05 crore for the corresponding quarter of the previous year.
The bank’s gross NPA for the April-June quarter of the current fiscal increased to 13.75%, as compared to 6.47% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 9.16% in Q1FY17.
Company Name | CMP |
---|---|
SBI | 819.65 |
Bank Of Baroda | 262.65 |
PNB | 122.05 |
Canara Bank | 545.50 |
Union Bank Of India | 142.10 |
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