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Punjab National Bank logs 253 jump in net profit in Q3FY24
PNB,PNBQ3FY24

Punjab National Bank logs 253 jump in net profit in Q3FY24

| @indiablooms | 27 Jan 2024, 02:19 am

New Delhi: Public sector Punjab National Bank (PNB) on Thursday reported a 253.41% jump in net profit at Rs 2,223 crore for the October-December quarter (Q3) of the current financial year 2023-24.

Net Interest Income (NII) of the bank increased by 12.13% year-on-year (YoY) to Rs 10,293 crore in Q3 of FY24.

Total income of PNB for Q3 FY 2024 was at Rs 29,962 crore, up 16.5% year-on-year.

Gross non-performing asset ratio of the bank improved by 352 basis points on YoY basis to 6.24 % in Q3 of FY24 from 9.76% in the same quarter last year.

"Gross Non-Performing Assets (GNPA) were at Rs 60,371 crore as on December’23 as against Rs 83,584 crore as on December’22 declined by Rs 23,213 Crore on YoY basis," PNB said.

Net Non-Performing Assets (NNPA) were at Rs 8,816 crore as on December 2023 as against Rs 26,363 crore as on December 2022 declined by Rs 17,547 crore on YoY basis.

Provision Coverage Ratio (PCR) Excluding TWO improved by 1694 bps YoY to 85.40 % in December 2023 from 68.46 % in December 2022.

CRAR was at 14.63% as on December 2023. Tier-I is at 11.73% (CET-1 was at 9.86%, AT1 was at 1.87%) and Tier-II is at 2.90% as on December 2023. Risk Weighted Assets were at Rs 7,37,201 crore as on December 2023.

Slippage ratio improved YoY by 136 bps to 0.81 % as on December 2023. Global Business increased by 10.82% on YoY basis to Rs 22,90,742 crore as on December 2023.

CRAR was at 14.63% as on December 2023. Tier-I is at 11.73% (CET-1 was at 9.86%, AT1 was at 1.87%) and Tier-II is at 2.90% as on December’23. Risk Weighted Assets were at Rs 7,37,201 Crore as on December 2023.

(With UNI inputs)

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