PNB reported a 66 percent decline in standalone net profit at Rs 202 crore for the fourth quarter of financial year 2021-22

PNB reported a net profit of Rs 586 crore in the corresponding quarter a year ago.

The total standalone income during the January-March quarter stood at Rs  21,095 crore, down from Rs 21,386 crore in the corresponding period  last year.

For the entire fiscal 2021-22, the bank's standalone net profit rose to Rs 3,456.96 crore, compared to Rs 2,021.62 crore in FY21

The asset quality of the lender improved, with the gross non-performing  assets (GNPAs) dropping to 11.78 percent of the gross advances as of  March 2022, from 14.12 percent a year ago.

PNB's net non-performing assets (NPAs) or bad loans also declined to 4.8 percent from 5.73 percent.

The lender kept a higher provision for bad loans and contingencies for  the January-March quarter at Rs 4,851.47 crore, compared to Rs 3,540.32  crore earlier.