KPL's blog on Indian stock markets, science, technology and more
SEBI Registration (Research Analyst) : INH000000743
July 28, 2015
The naked truth about PSU banks
India’s public sector banks have no place to hide—they stand in full public glare.
Three large state-owned banks announced their June quarter earnings on Tuesday. Punjab National Bank, the largest among them, announced a 48% drop in net profit. Bank of India fared worse. Its net profit plunged 84%, after posting a loss in the previous quarter.
Another Mumbai-based bank, Union Bank of India, posted a 22% drop in profit in the June quarter.