Synopsis
Punjab National Bank has announced outstanding financial results for Q3 FY25, reporting a net profit of Rs 4,508.21 crore, which is a 103% increase from the same quarter last year. The bank's total income and net interest income have also shown significant growth, highlighting a strong recovery.Key Takeaways
- PNB reported a net profit of Rs 4,508.21 crore, up 103% YoY.
- Total income increased by 16% to Rs 34,751.7 crore.
- Gross NPA reduced to Rs 45,413.98 crore.
- Operating profit grew by 4.6% YoY.
- Credit-deposit ratio improved to 69.95%.
Mumbai, Jan 31 (NationPress) The state-owned Punjab National Bank (PNB) has announced outstanding results for the quarter ending December 2024 (Q3 FY25), with a reported net profit of Rs 4,508.21 crore, reflecting a remarkable 103 percent increase from Rs 2,222.8 crore in the same quarter last year.
On a sequential basis, the profit increased by approximately 5 percent from Rs 4,303 crore in the September quarter (Q2 FY25).
The net interest income (NII) saw a rise of 7.2 percent year-on-year (YoY), amounting to Rs 11,033 crore, compared to Rs 10,293 crore in Q3 FY24, as per the bank's stock exchange submission.
The total income for PNB surged by 16 percent to Rs 34,751.7 crore, up from Rs 29,961.65 crore the previous year. In terms of quarter-on-quarter (QoQ) performance, it experienced a slight uptick of 1 percent from Rs 34,447.10 crore in Q2FY25.
The gross non-performing assets (Gross NPA) saw a decrease, falling to Rs 45,413.98 crore from Rs 60,371.38 crore last year and Rs 47,582.25 crore in the preceding quarter. Consequently, the Gross NPA ratio fell to 4.09 percent from 6.24 percent in Q3FY24 and 4.48 percent in the last quarter.
Meanwhile, the net NPA for the public bank dropped to Rs 4,437.43 crore from Rs 4,674.24 crore in Q2 FY25, marking a significant decline from the previous year. The net NPA ratio also decreased to 0.41 percent from 0.66 percent QoQ and 0.96 percent YoY.
PNB’s operating profit registered at Rs 6,620 crore in Q3, representing a 4.6 percent growth YoY.
The bank’s credit-deposit ratio improved to 69.95 percent from 69.24 percent YoY, and 69.91 percent in Q2FY25.
Additionally, PNB reported a provision write-back of Rs 285 crore, compared to a provision of Rs 288 crore in Q2 FY25. Provisions against NPAs increased to Rs 317 crore in the third quarter from Rs 199 crore in the preceding quarter.
