Fraud-hit Punjab National Bank logs 3rd straight quarterly loss at Rs 45 bn

Punjab National Bank (PNB) reported a third straight quarterly loss on Friday, as India's second-largest state lender by assets set aside more money to account for a massive fraud. Net loss came in at Rs 45.32 billion ($622.74 million) for the three months ended Sept.

30, compared with a profit of 5.61 billion rupees a year earlier, the bank said in a statement. The loss was much bigger than an estimated average loss of Rs  14.38 billion based on the views of 13 analysts, according to Refinitiv data. PNB said earlier.....

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