Punjab National Bank (PNB) is planning to sell its stake in PNB Housing Finance and PNB Gilts in the next financial year (FY), to shore up its capital base. The bank may not sell the stake in its life insurance arm PNB MetLife at this point. Last October, the bank had listed PNB Housing Finance.
The Bank has posted over four-fold jump in its net profit at Rs 207.18 crore for the quarter as compared to Rs 51.01 crore for the quarter ended December 31, 2015. The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 13.70%, as compared to 8.47% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 9.09% in Q3FY17.