PNB Q3 Profit Surges Over 100% to Rs 4,508 Cr
Punjab National Bank (PNB) reported a significant jump in net profit for the third quarter ended December 2024, driven by improved asset quality and higher interest income.
New Delhi, Jan 31 (PTI) State-owned Punjab National Bank (PNB) on Friday posted more than twofold jump in net profit at Rs 4,508 crore for the third quarter ended December 2024.
The bank had earned a net profit of Rs 2,223 crore in the same quarter a year ago.
Total income increased to Rs 34,752 crore from Rs 29,962 crore in the same period a year ago, PNB said in a regulatory filing.
Interest income also rose to Rs 31,340 crore from Rs 27,288 crore.
On the asset quality front, the bank's gross non-performing assets ratio moderated to 4.09 per cent from 6.24 per cent a year ago.
Similarly, net NPAs, or bad loans, came down to 0.41 per cent from 0.96 per cent at the end of the third quarter last fiscal.
As a result, provisions for bad loans came down significantly to Rs 318 crore during the quarter from Rs 2,994 crore a year ago.
The bank had earned a net profit of Rs 2,223 crore in the same quarter a year ago.
Total income increased to Rs 34,752 crore from Rs 29,962 crore in the same period a year ago, PNB said in a regulatory filing.
Interest income also rose to Rs 31,340 crore from Rs 27,288 crore.
On the asset quality front, the bank's gross non-performing assets ratio moderated to 4.09 per cent from 6.24 per cent a year ago.
Similarly, net NPAs, or bad loans, came down to 0.41 per cent from 0.96 per cent at the end of the third quarter last fiscal.
As a result, provisions for bad loans came down significantly to Rs 318 crore during the quarter from Rs 2,994 crore a year ago.
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