PNB Q2 Results: Net profit stand at Rs 4,303 crore, shares revive up to 5%
The Bank has witnessed significant improvement in asset quality, with gross non-performing assets (NPA) declining to 4.48%, down from 4.98% in the previous quarter.
PNB Q2 Results: Net profit stand at Rs 4,303 crore, shares revive up to 5%
State-owned Punjab National Bank has reported robust financial Q2 results for FY25, with net profit reaching to Rs 4,303.5 crore, a sharp increase from Rs 1,756 crore in the same period last year. The bank's net interest income (NII) grew by 6%, reaching Rs 10,517 crore compared to Rs 9,923 crore year-on-year, reflecting healthy momentum in core lending.
The Bank has witnessed significant improvement in asset quality, with gross non-performing assets (NPA) declining to 4.48%, down from 4.98% in the previous quarter. Similarly, net NPA fell to 0.46%, compared to 0.60% in the prior quarter, underscoring the bank's efforts to strengthen its balance sheet and manage credit risk effectively.
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The Bank’s Savings Deposits increased to Rs 4,88,635 crore, registering a growth of 3.7% YoY. Current Deposits rose 1.6% YoY to Rs 68,104 crore. CASA Deposits growth at 3.4% to Rs 5,56,739 crore, while CASA share of the bank stands at 39.31% as of September 2024.
The bank’s shares reacted positively to the earnings release, trading above Rs 100 on the BSE, up nearly 5% from the previous close.
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