Punjab National Bank (PNB) Q2FY25 Net profit increases 145%


Punjab National Bank (PNB)
reported a substantial 2.5x year-on-year surge in its standalone net profit to Rs 4,303.5 crore for the quarter ending September 2024, compared with Rs 1,756.1 crore in the same period a year earlier. The jump in profit was helped by an over Rs 3,150-crore fall in new provisions recorded during the quarter, while the interest income surged and asset quality improved.


The PSU bank’s NII for the July-September quarter rose by 6 percent year-on-year to Rs 10,517 crore, up from Rs 9,923 crore last year.


The new provisions and contingencies recorded during the quarter fell sharply to just Rs 288 crore from Rs 3,444.2 crore, boosting the public sector lender’s bottomline.


PNB's gross NPA ratio improved to Rs 4.48 percent at the end of September, from 4.98 percent at the end of June. Net NPA ratio too improved to 0.48 percent from 0.6 percent in the preceding quarter.


The new provisions and contingencies recorded during the quarter fell sharply to just Rs 288 crore from Rs 3,444.2 crore, boosting the public sector lender’s bottomline.


PNB's gross NPA ratio improved to Rs 4.48 percent at the end of September, from 4.98 percent at the end of June. Net NPA ratio too improved to 0.48 percent from 0.6 percent in the preceding quarter.

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