India's Punjab National Bank Q4 net slumps as bad loans hurt

May 8, 2015 7:09 AM

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MUMBAI May 8 Punjab National Bank, India's fifth-biggest lender by assets, said quarterly net profit fell 62 percent as provisions for bad loans were sharply higher.

The New Delhi-based bank said standalone net profit plunged to 3.07 billion rupees ($48 million) for its fiscal fourth quarter to end-March, from 8.06 billion rupees a year earlier.

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