PNB Q4 Profit Surges 52% to Rs 4,567 Cr - Business News

New Delhi, May 7 (PTI) State-owned Punjab National Bank (PNB) on Wednesday reported 52 per cent rise in net profit at Rs 4,567 crore for March quarter FY25.

The lender had earned a net profit of Rs 3,010 crore in the year-ago period.

During the quarter, the bank's total income increased to Rs 36,705 crore from Rs 32,361 crore a year ago, PNB said in a regulatory filing.

Interest income grew to Rs 31,989 crore from Rs 28,113 crore in the fourth quarter of previous financial year.

On the asset quality front, the bank's gross Non-Performing Assets (NPAs) moderated to 3.95 per cent of gross advances as compared to 5.73 per cent by the end of March 2024. Similarly, Net NPAs came down to 0.40 per cent from 0.73 per cent.

The bank's capital adequacy ratio rose to 17.01 per cent from 15.97 per cent at the end of FY24.

For entire financial year 2024-25, the bank's profit doubled to Rs 16,630 crore from Rs 8,245 crore in the previous year. Total income rose to Rs 1,38,070 crore from Rs 1,20,285 crore.

The bank's board has recommended a dividend of Rs 2.90 per equity share of face value of Rs 2 each for 2024-25 subject to approval of shareholders.

The board also approved a proposal to raise up to Rs 8,000 crore through issuance of Basel III-compliant Bonds (Additional Tier-I Bonds up to Rs 4,000 crore and Tier- II Bonds up to Rs 4,000 crore), to be raised in one or more tranches during 2025-26, it said.