PNB expects ₹3,800 crore recovery from Bhushan Power resolution
- PNB also hopes to make good recovery of its exposure in crisis-hit DHFL, which is undergoing a resolution process currently
- The bank has posted a net profit of ₹506 crore on a standalone basis in the quarter ended December 2020 of this fiscal
New Delhi: State-owned Punjab National Bank (PNB) is expecting to recover a substantial ₹3,800 crore from Bhushan Power and Steel under debt resolution in NCLT, which will help it achieve the target of ₹8,000 crore cash recoveries during this fiscal, its managing director and CEO S S Mallikarjuna Rao said.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more