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.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
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.
Read Also : CBI Arrests Northern Railways Engineer and Trackman in 34000 Rupees Bribery Case