Geez …

Punjab National Bank (PNB), India’s second-largest government-owned lender, has discovered a fraud worth $1.77 billion at one of its branches in Mumbai. This amount is nearly a third of the bank’s market value of Rs36,444.45 crore (as on Feb. 14), and close to 50 times its net profit in the October-December 2017 quarter.

This may just be the tip of the iceberg, as the impact of the crime is likely to spill over to other banks, too.