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A year after India’s biggest bank fraud, PNB on road for annual profit

One year after being hit by a $2 billion scam, Punjab National Bank (PNB) is set to return to annual profits and strong loan growth in 2019-20 even as investigations continue into the country's biggest banking fraud. State-owned PNB has already surprised markets with an earlier-than-expected profit for the quarter ended December as it completed setting aside funds to cover for the scam and its bad loan levels eased.While the lender is still likely to run up a loss of Rs 5,984 crore ($837.16 million) for this fiscal year ending...
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