500 crore net profit in Q2
moncler outlet sale However, the road to profitability has already hit some hurdles for the Delhi based bank as the Union government has rejected its demand for an https://www.moncleroutlett.com additional capital infusion of around Rs 8,000 crore in 2018 19 moncler outlet sale
monlcer down jackets Fraud hit Punjab National Bank (PNB), which recently reported the highest ever loss by any domestic bank in history, is aiming to clock its largest ever quarterly profit of Rs 5,500 crore in the July August period this financial year. monlcer down jackets
However, the road to profitability has already hit some hurdles for the Delhi based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018 19, sources said.
moncler sale outlet Submitting its turnaround plan last month, PNB has told the department of financial services (DFS) and the Reserve Bank of India (RBI) that it is eyeing an ambitious net profit of Rs 5,500 crore in the second quarter, according to documents reviewed by Business Standard. moncler sale outlet
This will mean a huge recovery from the Rs 13,400 crore moncler outlet jackets net loss reported moncler outlet online by the bank in fourth quarter of 2017 18, owing to the Rs 14,300 crore swindle on account of fraudulent loans to jewellery firms belonging to Nirav Modi and Mehul Choksi and the Reserve Bank of India (RBI) new provisioning norms.
moncler outlet online The highest quarterly net profit reported by PNB stood at Rs 1,420 crore in January March 2012. moncler outlet online
PNB had sought Rs 80 billion in the form of capital support from the Union government in 2018 19.
cheap moncler sale outlet moncler coats However, the DFS is not keen on pumping in additional money into the fraud hit bank and it has instead asked the management to focus on selling non core assets, shedding risk weight assets and improve recovery to clock profitability, sources said. cheap moncler coats
cheap moncler jackets PNB demand for an additional capital comes on the back of the expected hit of Moncler Outlet Rs 100 billion in the present financial year due to the fraud related provisions, mark to market losses (due to high yields impacting the market value of investment book), provision on insolvency and bankruptcy code, among others. cheap moncler jackets
In the fourth quarter of 2017 18, PNB had to make a moncler jackets outlet provisioning of Rs 10,200 crore in its books because of the RBI new stressed assets resolution norms and a sum of Rs 7,180 crore towards the moncler outlet store fraud, which is half the amount involved in the scam.
buy moncler jackets capital infusion, apart from the second round of recapitalisation due this financial year, in PNB is unlikely, said a senior finance ministry official. buy moncler jackets
cheap moncler outlet Last year, PNB received Rs 5,470 crore from the Union government, under the first round of public sector bank recapitalisation. cheap moncler outlet
Recently, rating agency Moody Investors Service said PNB will need Rs 12,000 crore 13,000 crore in 2018 19 to meet regulatory cheap moncler jackets sale requirements, while downgrading its rating.
PNB has planned to substantially bring down net non performing assets (NPA) to 5.96 per cent by cheap moncler outlet March 2019 from 11.24 per cent in March this year.
A net NPA of above six per cent is itself a trigger for the RBI to put PNB under cheap moncler coats its prompt corrective action (PCA) framework to restore its health that will somewhat restrict its ability to expand.
Though the RBI may take a call on whether PNB financial conditions warrants putting it under PCA, the Delhi based bank is taking early steps to cut down expenses.
moncler outlet For instance, it has put a freeze on fresh hiring and plans to close down 634 unviable ATMs across the country. moncler outlet
moncler outlet store In 2017 18, PNB had shut 506 unviable ATMs, as per the RBI data. moncler outlet store
moncler mens jackets Overall, the bank will aim to cut down operating expenses by 10 per cent, as per its roadmap for revival. moncler mens jackets
cheap moncler sale Further, it plans to reduce the risk moncler outlet uk weighted assets by Rs 23,000 crore and has targeted return on assets at 0.14 per cent by March 2019 from a negative return at end of March 2018. cheap moncler sale
In a bid to prevent slippages, the amount of loans that turns from good to bad, PNB has strengthened its loan monitoring system and launched an internal mobile application known as PNB moncler sale MTOUCH.
cheap moncler The bank management has told branch officials to visit the borrower residence or business premises regularly and persuade them to repay the overdue from day 1 cheap moncler.
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