Punjab National Bank (PNB) is expecting recoveries from bad loans to double the slippages amount in the next financial year. The higher recovery target comes amid encouraging recoveries made by the lender in the current fiscal.
The bank managed to recover Rs 15,881 crore from bad loans for the first nine months of FY24, which is over three times of slippages. Total slippages were at Rs 4,551 crore during the period. “For the next financial year, we will set a target that whatever will be the slippages, recovery should be double that amount because we are having so much of stock – Rs 60,000 crore is gross NPA,” said Atul Kumar Goel, MD and CEO, in an earnings call.
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