non-performing assets

PNB Q1 Results: Net profit after tax jumps 159% YoY, NII rises 10%

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PNB Q1 Results: Net profit after tax jumps 159% YoY, NII rises 10%

Public sector lender Punjab National Bank (PNB) on Saturday reported a 159% year-on-year (YoY) jump in its net profit for the quarter ended June 30, 2024, while the bank’s net interest income (NII) rose to Rs 10,476 crore, up by 10% YoY. The net profit for the period stood at Rs 3,252 crore versus a … Read more

Saraswat bank NPAs: ARCIL buys Saraswat’s NPAs at 86% haircut

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Saraswat bank NPAs: ARCIL buys Saraswat’s NPAs at 86% haircut

US-based Avenue Capital-backed Asset Reconstruction Company (India) (ARCIL) has bought nearly ₹400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank with a haircut of nearly 86%. Saraswat Bank, one of the largest cooperative banks in the country, sold the NPA portfolio comprising retail and micro, small and medium enterprises (MSME) loans … Read more