Punjab National Bank’s Q2 net profit rises 22% to Rs 621 crore

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State-owned Punjab National Bank reported a 22 per cent jump in net profit to nearly Rs 621 crore for the second quarter ending 30 September 2020 thanks to lower provisioning for bad debts. The country’s second-largest public sector bank’s total income increased to Rs 23,438.56 crore during July-September. Recording improvement in asset quality on a sequential basis, net NPAs during the same period eased to 4.75% from 5.39% in the previous quarter.

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