PNB turns ₹586-crore profit in Q4

State-owned Punjab National Bank (PNB) on Friday posted a standalone profit of ₹586.3 crore for the fourth quarter ended March, aided by a good increase in interest income.

The second largest public sector lender had reported a loss of ₹697.2 crore in January-March period of 2019-20.

Total income rose to ₹22,531.7 crore from ₹16,388.3 crore. Interest earned rose 36% to ₹18,789.5 crore, PNB said in a regulatory filing.

The numbers were not strictly comparable as Oriental Bank of Commerce and United Bank of India were merged into PNB effective April 1, 2020, it said. Net NPAs dipped to 5.7% against 5.8% in the year-earlier period.

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