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PNB to sell properties worth ₹4,000 crore
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Home Asia PNB to sell properties worth ₹4,000 crore

PNB to sell properties worth ₹4,000 crore

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February 14, 2019

PNB decided to auction properties all over India.

The bank has recovered ₹16,600 crore till 31 December 2018.

A net profit of ₹247 crore is reported as of third quarter in December 2018.

PNB to sell properties worth ₹4,000 crore — PNB to sell properties worth ₹4,000 crore

The Punjab National Bank (PNB) has decided to auction properties over more than 4000 all over India to recover its loan.

PNB to sell properties worth ₹4,000 crore

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SARFAESI) ensure to achieve ₹26,000 crore through the financial year 2018-19.

The bank has recovered ₹16,600 crore till 31 December 2018.

Punjab National Bank recently reported a net profit of ₹247 crore at the end of quarter three in December 2018 against ₹230 crore profit after tax (PAT) in the parallel 2017-18.

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