Punjab National Bank (PNB) is eyeing to reduce its gross non-performing assets (NPAs) at under 12 percent this year with better recoveries. In the quarter to June, the bank’s gross NPAs came down to 16.49 percent at Rs 77,000 crore as compared to 18.26 percent or Rs 82,889 crore for the corresponding quarter previous year. In FY19, the bank’s recoveries stood at Rs 20,000 crore, which included Rs 2,100 crore through an one-time settlement scheme.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
