Punjab National Bank Posts Loss Of Rs 4,532 Crore In Q2 On Higher Provisions

Punjab National Bank (PNB) reported a third straight quarterly loss on Friday as it set aside more money to account for a massive fraud, potentially frustrating the lender's plan to return to a profit for the year. Net loss came in at Rs 4,532 crore ($622.74 million) for the three months ended September 30, compared with a profit of Rs 561 crore a year earlier, and much bigger than an estimated average loss of Rs 1,438 crore, accordi...