PNB Q4 results, net profit up by 35% QoQ

The Board of Directors has recommended a dividend of Rs 1.50 per equity share (75%) for the year ended March 31, 2024 subject to requisite approvals.

PNB Q4 results, net profit up by 35% QoQ

Net Profit increased Y-o-Y by 159.8% and Q-o-Q by 35.4% to Rs 3,010 Cr in Q4 FY’24 from Rs 1,159 Crore in Q4 FY’23 and ?2,223 Cr in Q3 FY’24. During FY’24, Net Profit rose to Rs 8,245 Crore recording a robust growth of 228.8% against Rs 2,507 Crore posted during FY’23.

Return on Assets (RoA) improved to 0.77% in Q4 FY’24 from 0.58% in Q3 FY’24 and 0.32% in Q4 FY’23. While RoA improved Y-o-Y by 36 bps to 0.54% in FY’24 against 0.18% recorded in FY’23.  Return on Equity (RoE) improved to 16.48% in Q4 FY’24 from 12.45% in Q3 FY’24 and 7.11% in Q4 FY’23.


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The Bank’s Net Interest Income (NII) increased to Rs 10,363 Cr in Q4 FY’24 from Rs 10,293 Cr in Q3 FY’24 and Rs 9,499 Cr in Q4 FY’23 showing an improvement of 9.1% on a Y-o-Y basis. During FY’24, NII rose by 16.2% to Rs 40,083 Crore from Rs 34,492 Crore in FY’23.

Operating Profit increased by 9.4% on a Y-o-Y basis to Rs 6,416 Cr in Q4 FY’24 from Rs 6,331 Cr in Q3 FY’24 and Rs 5,866 Cr in Q4 FY’23. Operating Profit rose by 10.7% to Rs 24,931 Crore in FY’24 from Rs 22529 Crore in FY’23.  

Credit Cost improved by 91 bps from 1.72% in Q4 FY’23 to 0.81% in Q4 FY’24 and by 63 bps from 2.03% in FY’23 to 1.40% in FY’24.  GNPA ratio improved by 301 bps on a Y-o-Y basis to 5.73% as of March’24 from 8.74% as of March’23.  NNPA ratio improved by 199 bps from 2.72% as on March’23 to 0.73% as on March’24.  Provision Coverage Ratio (including TWO) improved by 849 bps on Y-o-Y basis to 95.39% as on March’24


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The bank grew impressively under Core Retail recording a Y-o-Y growth of 15.2%. Within Core Retail Credit:

• Housing Loans grew by 14.5% to Rs 93,694 Crore.

• Vehicle loans posted a growth of 25.6% to reach Rs 20,692 Crore.

 • Personal Loan increased by 14.4% to Rs 20,766 Crore.

 Agriculture Advances grew by 11.3% on a Y-o-Y basis to Rs 1,58,188 Crore  MSME Advances increased Y-o-Y by 7.0% to Rs 1,39,288 Crore in March’24.

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