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Targeting recovery of loans worth Rs 15-20k crore in FY17: PNB

State-owned  Punjab National Bank (PNB) posted net loss of Rs 5,367.14 crore in January-March quarter against profit of Rs 306.56 crore in year-ago period.

Speaking to CNBC-TV18, Usha Ananthasubramanian, MD & CEO of the bank said, the bank has done major cleansing in the last quarter and is now targeting recovery of loans worth Rs 15,000-20,000 crore in FY17.

While asset quality review (AQR) stood at Rs 11,800 crore, amount of Rs 1,700 crore from discoms slipped into non-performing asset (NPA) in FY16, she said.

She expects the bank to grow its loan book by 10 percent going forward. PNB’s restructured book stands at Rs 20,000 crore currently, she said. 

The bank is focussing on small-ticket engagements, currently 57 percent of total loan book, like those to agriculture and retail sectors, Ananthasubramanian added.

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