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PNB to save nearly ₹700 crore every quarter after shift to new tax regime
August 02, 2025
|The New Indian Express Tirupati
STATE-run Punjab National Bank (PNB) expects to save nearly ₹700 crore every quarter, or ₹2,800 crore annually, following its transition from the old corporate tax regime to the new one, D Surendran, executive director, Punjab National Bank, told TNIE in an exclusive interaction.
The bank took a one-time hit of ₹3,300 crore in the April-June quarter (Q1FY26) due to a mandatory provisioning linked to deferred tax assets, which sharply reduced its net profit year-on-year. But Surendran said the move is a strategic one that will boost profitability in the coming quarters.
هذه القصة من طبعة August 02, 2025 من The New Indian Express Tirupati.
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المزيد من القصص من The New Indian Express Tirupati
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