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PNB marks Q2FY24 with strong earnings, net profit jumps 327% yoy to Rs 1,756 crore
The Business Guardian
|May 10, 2024
State-run lender Punjab National Bank achieved a robust performance for the second quarter of FY24 with the net profit at Rs 1756 crore jumping 327.14 per cent year-on-year while the net interest income (NII) rose 20 per cent on a yearly basis to Rs 9,923 crore in the September quarter of the fiscal, as per the company’s financial results for Q2 and HY1 FY’24 declared on Thursday.
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The bank’s gross non-performing assets (GNPA) were at Rs 65,563 crore as on September’23 as against Rs 87,035 crore as on September’22, a decline of Rs 21,472 crore on yoy basis. The net non-performing assets (NNPA) were at Rs 13,114 crore as on September’23 as against Rs 29,348 crore as on September’22, down by Rs 16,234 crore on yoy basis. Credit cost declined by 45 bps on YoY basis to 1.31 per cent in Q2 FY’24.
On the business front, savings deposits increased to Rs 4,71,238 crore as on September’23 from Rs4,51,707 Crore as on September’22. Current deposits were at
Dit verhaal komt uit de May 10, 2024-editie van The Business Guardian.
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