A polyamide-imide resin which can give a varnish having a high resin content, excellent in storage stability and heat resistant final products can be produced by reacting an aromatic diisocyanate with a tricarboxylic acid anhydride in the presence of a basic solvent while adjusting the resin content at 40% by weight or more, and adding a specific amount of lactam and a specific amount of an alcohol and/or an oxime separately before, during or after the above-mentioned reaction so as to adjust the reduced viscosity of the resin to 0.10 to 0.27.