Punjab National Bank(PNB) Q1 PAT falls 48% YoY


State-owned Punjab National Bank on Wednesday reported a standalone net profit of Rs 1,675 crore for the quarter ended June 2025, marking a 48% year-on-year (YoY) decline from Rs 3,251.5 crore in the first quarter of FY25.


Total income for the June quarter rose 15.7% YoY to Rs 37,232 crore, up from Rs 32,166 crore a year earlier.


Net interest income (NII), however, remained largely flat, increasing by just 1% year-on-year to Rs 10,578 crore from Rs 10,476 crore in the year-ago period.


The sharp fall in profit was driven by a one-time tax expense of Rs 5,083.3 crore, compared with Rs 2,017 crore in the corresponding quarter of the previous year.


On a consolidated basis, the lender posted a net profit of Rs 1,832 crore for the first quarter, down 52% from Rs 3,716 crore a year earlier.


Asset quality improved modestly on a sequential basis. Gross non-performing assets stood at 3.78% at the end of June, down from 3.95% in March. Net NPAs eased to 0.38% from 0.4%.


The bank reported sequential and annual improvements in asset quality. Gross non-performing assets (GNPA) fell to Rs 42,673 crore as of June 2025, a decline of Rs 8,590 crore from Rs 51,263 crore a year earlier.


The gross NPA ratio improved to 3.78%, down from 3.95% in March and 5.73% in June 2024. Net non-performing assets (NNPA) also declined to Rs 4,132 crore from Rs 5,930 crore in the year-ago quarter, with the NNPA ratio improving to 0.38% from 0.60%.


Total CASA (current and savings account) deposits stood at Rs 5,68,638 crore, reflecting a year-on-year increase of 3.6%. The CASA ratio stood at 36.99% at the end of the June quarter.


On the advances front, retail credit rose 11.8% year-on-year to Rs 2,62,219 crore. The bank's core retail lending segment posted stronger growth, rising 17.7% from the year-ago period. Agriculture loans grew by 6.2% to Rs 1,78,885 crore, while MSME advances surged 18.6% year-on-year to Rs 1,69,426 crore.

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