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Home STOCKS Punjab & Sind Bank Q1 web loss widens to Rs 117 crore...

Punjab & Sind Bank Q1 web loss widens to Rs 117 crore on mounting negative loans

Point out-owned Punjab & Sind Bank (PSB) on Friday mentioned its web loss widened to Rs 116.89 crore in the first quarter ended June 30, largely because of to mounting lousy loans.
The town-headquartered lender experienced reported a web loss of Rs 30.28 crore throughout the very same quarter a year ago. Sequentially, it had registered a net loss of Rs 236.30 crore in the fourth quarter last fiscal.
The overall cash flow of the bank also fell to Rs 1,954.39 crore in April-June, as towards Rs 2,237.91 crore in identical period of 2019-20, the bank said in a regulatory filing.
Interest cash flow declined to Rs 1,800.02 crore from Rs 2,070.94 crore.
The bank”s gross non-accomplishing assets (NPAs), as a proportion of gross advancements as on June 30, 2020 swelled to 14.34 per cent as against 12.88 per cent a 12 months back.
But in value phrases, the gross NPAs or terrible financial loans had been down at Rs 8,848.06 crore as towards Rs 8,885.86 crore.
Net NPAs, even so, were being down at 7.57 per cent (Rs 4,326.41 crore), as in opposition to 7.77 for every cent (Rs 5,062.36 crore).
The bank”s provisions for terrible financial loans and contingencies for June quarter of FY21 had been lifted to Rs 382.56 crore from Rs 334.53 crore.
However, the provision created only for negative loans stood at Rs 330.80 crore in the initial quarter this fiscal, as versus Rs 211.13 crore in the year-ago time period.
“Bank has noted in just one mortgage account in the highway projects under borrowal fraud group to RBI throughout quarter 4 of financial 12 months 2019-20 involving quantity of Rs 38.19 crore excellent as on December 31, 2019. The account was previously underneath NPA classification due to the fact October 31, 2016 and provision of Rs 15.27 crore was held till December 2019,” it explained.
The bank reported it has produced a provision of Rs 26.73 crore till June 30, 2020 in opposition to this account, and balance of Rs 11.46 crore has been deferred to be offered in future the two quarters of 2020-21.
With regard to Delhi Airport Metro Specific Pvt Ltd (DAMEPL) account, it stated in conditions of the Supreme Court order and RBI guidelines, the bank has saved DAMEPL as regular account.
Following the order, the bank has not taken care of an sum of Rs 147.07 crore as NPA, but created the needed provisions of Rs 36.77 crore toward the identical.
The bank”s provision coverage ratio and liquidity coverage ratio as on June 30, 2020 stood at 69.20 per cent and 220.80 for each cent, respectively.
On COVID-19 relevant moratorium provisions, the bank has manufactured provision of Rs 100 crore as per the RBI rules, which is additional than minimum amount, it said.
PSB shares shut flat at Rs 13.32 apiece on the BSE.


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