Tag Archives: Clean-Up

Bad Loan Clean-Up Takes Toll on State Banks’ Earnings

Mumbai: Four state-run banks reported a spike in bad loans and provisions for sour debt on Tuesday after a clean-up exercise ordered by their regulator, sending three of them to net losses for the fiscal third quarter. Punjab National Bank (PNB), India’s fourth-biggest state-run lender by assets, posted a 93 per cent fall in December-quarter profit, and said it expected ... Read More »