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Slippages will gradually dip every quarter: PNB chief Atul Kumar Goel

In a Q&A, the lender's MD & CEO says the bank's NPA ratio could improve further as it doesn't have any large loan that needs to be regarded as bad

Manojit Saha Mumbai

Punjab National Bank Managing Director Atul Kumar Goel

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Atul Kumar Goel, MD & CEO of Punjab National Bank, Punjab National Bank

4 min read Last Updated : Feb 24 2023 | 6:38 PM IST

Atul Kumar Goel, MD & CEO of Punjab National Bank says the lender's non-performing asset ratio could improve further as it does not have any large loan that needs to be recognised as bad, in an interview with Manojit Saha. Edited Excerpts:

Higher operating expenses and provisions caused the net profit to decline. Employee benefit expenses went up by 185 per cent in Q3. Is it a one-time hit, or do you see more provisions in the coming quarters?

The bipartite settlement [with employees’ unions for wage revision] was due in November 2022. In the December quarter, we provided Rs 181 crore for two months. In addition, as part of the settlement, if the operating profit for the nine months is more than the nine months of the corresponding period last year, then provision is also required. On that count we've provided Rs 79 crore. Our AS15 provision for the December quarter was Rs 1,330 c