Total income increased 27.75% year on year (YoY) to Rs 29,383.20 crore in the quarter ended 30 September 2023.
Operating profit for the second quarter rose 11.67% YoY to Rs 6,216 crore. Provisions other than tax and contingencies slipped 29.8% YoY to Rs 3,444.18 crore during the period under review.
Net interest income increased 20% to Rs 9,923 crore in Q2 FY24 as against Rs 8,271 crore in Q2 FY23. Net interest margin (domestic) stood at 3.24% in Q2 FY24 compared with 3.11% in Q2 FY23.
Domestic deposits increased by 9.36% YoY to Rs 12,77,183 crore as on 30 September 2023. Global Advances grew by 13.43% YoY to Rs 9,41,721 crore as on 30 September 2023.
Gross non-performing assets (NPA) stood at Rs 65,563.12 crore as on 30 September 2023 as against Rs 87,034.79 crore as of 30 September 2022 as compared with Rs 70,899.34 crore as on 30 June 2023.
GNPA ratio stood at 6.96% as on 30 September 2023 as against 7.73% as of 30 June 2023 as compared with 10.48% as on 30 September 2022.
Return on assets was at 0.46% in Q2 FY24 compared with 0.34% in Q1 FY24. Return on equity stood at 1.15% in Q2 FY24 as against 7.50 % in Q1 FY24.
CASA deposits stood at Rs 5,38,276 crore in Q2 FY24 as against Rs 5,24,448 crore in Q2 FY23.
Provision Coverage Ratio (PCR) improved by 795 bps YoY to 91.91% as on 30 September 2023. Slippage ratio improved to 0.86% in Q2 FY24 from 3.34% in Q2 FY23.
Capital Adequacy Ratio (CRAR) was 15.09% for 30 September 2023. CET-1 was at 10.23%, AT1 was at 1.79% and Tier-II is at 3.07% as at 30 September 2023.
Credit cost declined by 45bps on YoY basis to 1.31% in the quarter ended 30 September 2023.
Punjab National Bank is engaged in the business of treasury, corporate/wholesale banking, retail banking, other banking operations. As on 30 June 2023, Government of India held 73.15% take in the Bank.
As on 30 September 2023, the bank has 10,092 domestic branches. Of which, 3,905 (39%) are in rural, 2,461 (24%) in semi-urban, 1,998 (20%) in urban & 1,728 (17%) in metro. The bank has 2 branches at Dubai and Gift City, Gandhi Nagar for international business. In addition to the above, the bank has 12,645 ATMs and 20,447 business correspondents as part of banking outlets.
The scrip rose 0.52% to Rs 69.81 on the BSE.