The lender provided Rs 519 crore in September quarter for 24 NCLT accounts.
Punjab National Bank reported a mammoth loss of Rs 4,532 crore in second quarter that ended in September. In Q1, PNB due to the infamous Nirav Modi scam reported a loss of Rs 940 crore.
Its total income during the September quarter of 2018-19 declined to Rs 14,035.88 crore as against Rs 14,205.31 crore in the year-ago period, PNB said in a BSE filing.
The bank's gross non-performing assets (NPAs) as a proportion of gross advances rose sharply to 17.16 per cent (Rs 81,250.83 crore) at the end of September, from 13.31 per cent (Rs 57,630.11 crore) a year ago.
As a result, provision for bad loans nearly tripled to Rs 7,733.27 crore in the September quarter as against Rs 2,693.78 crore in the same quarter of the previous fiscal.
Shares of PNB were trading 1.01 per cent lower at Rs 73.50 apiece on BSE.
PNB, the fourth-biggest bank by assets among all of India’s lenders, in February was defrauded by two jewellery groups.
In March quarter, PNB, the second largest state-owned bank came up with a loss figure of Rs 13,416.91 crore, biggest quantum of loss suffered by any banking entity for a quarter in the country. The loss, which contrasted with a profit of Rs 261.90 crore in the year-ago period, came close to the size of Nirav-Choksi scam whose size has been again pushed up to Rs 14,356.84 crore as disclosed by the bank in the notes to the accounts for the March quarter.
Besides the Nirav Modi scam, earlier in August, yet another fraud of Rs 9.48 crore under the nose of the Brady House branch of the Punjab National Bank (PNB) had surfaced wherein the Central Bureau of Investigation (CBI) has accused unknown PNB officials.
The CBI has registered an FIR against M/s Vision Machines Pvt Ltd (VMPL), Bandra; its directors, Manish Soni and Kuldeep Verma; two guarantors, and unknown officials of PNB.
Meanwhile, it was reported that the bank is adopting three pronged to climb out of its losses by selling its non-core assets, aggressive sale of its non-performing assets (NPAs) and recoveries.
Some of the accounts that the bank has put on sale in the last few months were Sri Guruprabha Power Ltd (Chennai) with an outstanding loan amount of Rs 3,152 crore, Gwalior Jhansi Expressways Rs 55 crore, SVS Buildcon Pvt Ltd Rs 50 crore and Shiva Texfabs Ltd Rs 31 crore.Shree Sidhbali Ispat Ltd (Meerut) Rs 165 crore and Dharamnath Investment (Mumbai) Rs 17.63 crore.
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 "PNB reports net loss of Rs 4,532 crore in September Quarter")
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