PNB Q3 Review - Asset Quality Issues Under Control: Prabhudas Lilladher  
Signage for Punjab National Bank (PNB) is displayed outside a branch in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

PNB Q3 Review - Asset Quality Issues Under Control: Prabhudas Lilladher  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Punjab National Bank’s earnings were lower than estimates at Rs 5.1 billion (our estimate Rs 8.5 billion) as higher provisions offset slightly better net interest income and lower opex.

Although, higher provisions on pro-forma non-performing assets have covered the risks, while on restructured as well bank has provided 10% on implemented accounts.

A major positive has been restructured at just 180 basis points of loans (similar to other excluding -State Bank of India public sector banks) from expectation of 300 basis points of loans, while slippages have remained on higher side which was a disappointment.

Click on the attachment to read the full report:

Prabhudas Lilladher PNB Q3FY21 Result Update.pdf

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