Punjab National Bank Q2 Result 2023: Net Profit Rs.1,756 crore

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Punjab National Bank (PNB) on October 26 reported an 327 percent rise in net profit at Rs 1,756 crore for the July–September quarter of the current financial year.

The public-sector lender’s gross non-performing assets (GNPA) declined to 6.96 percent from 10.48 percent in this period and the net non-performing assets (NNPA) fell to 1.47 percent from 3.80 percent.

PNB’s global business increased by 11.26 percent on a YoY basis to Rs 22,51,631 Crore as of September 2023 as against Rs 20,23,713 Crore as of September 2022.

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However, global deposits grew by 9.75 percent on YoY basis to Rs 13,09,910 Crore as on September’23. Moreover, global advances grew by 13.43 percent on YoY basis to Rs 9,41,721 Crore as on September 2023.

Savings deposits increased to Rs 4,71,238 Crore as on September 2023 from Rs 4,51,707 Crore as on September 2022.

Current deposits were at Rs 67,038 Crore as on September 2023. CASA Share (Domestic) stands at 42.15 percent as on September 2023 as compared to 41.90 percent in June 2023.

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Housing Loan increased by 13.7 percent on YoY basis to Rs 87,430 Crore. Vehicle loan increased by 28.3 percent on YoY basis to Rs 18,010 Crore.

However, personal loans increased by 39.0 percent on YoY basis to Rs 19,868 Crore. Total Retail increased by 40.42 percent YoY basis from Rs 1,55,409 Crore in September 2022 to Rs 2,18,230 Crore in September 2023.

By, September 30, 2023, PNB has 10092 number of Domestic branches out of which rural are 3905 (39 percent), Semi-Urban: 2461 (24 percent), Urban: 1998 (20 percent) & Metro: 1728 (17 percent), 2 International Branches, 12645 number of ATMs and 20447 BCs.

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