Punjab National Bank (PNB) will be a focal point on Tuesday, October 29, 2024, after reporting impressive financial results for Q2 FY25. The bank achieved a 145% year-on-year increase in net profit, reaching ₹4,303 crore compared to ₹1,756 crore in the same quarter last year.
Key Highlights from Q2 FY25:
- Net Interest Income (NII) saw a growth of 5.99% year-on-year, totaling ₹10,517 crore, up from ₹9,923 crore in Q2 FY24.
- Operating profit rose by 10.25% YoY, amounting to ₹6,853 crore.
- The bank’s global deposits increased by 11.33% YoY, reaching ₹14,58,342 crore.
- Global advances grew by 12.76% YoY, totaling ₹10,61,904 crore.
- Global business expanded by 11.93% YoY, reaching ₹25,20,246 crore.
- The Credit-Deposit (CD) Ratio improved to 72.82% from 71.89% year-on-year.
Asset Quality:
- The Gross Non-Performing Assets (GNPA) ratio improved significantly, decreasing by 248 basis points to 4.48% from 6.96% in Q2 FY24.
- The Net Non-Performing Assets (NNPA) ratio also showed improvement, down by 101 basis points to 0.46%.
- The Provision Coverage Ratio (excluding certain provisions) increased by 1018 basis points to 90.18%.
- Credit cost improved to 0.08% from 1.31% year-on-year.
For the first half of FY25 (April – September 2024), PNB reported a net profit of ₹7,555 crore, reflecting a 150.8% growth year-on-year, with NII at ₹20,993 crore, marking an 8.1% increase.
As of September 30, 2024, PNB operated 10,159 domestic branches and 2 international branches, with 63.31% of its branches located in rural and semi-urban areas.
On October 28, PNB’s share price closed at ₹98.65, up by 2.97%, with a market capitalization of ₹1,13,377.89 crore. Given these robust results, the bank’s stock is likely to attract considerable investor interest in the upcoming trading session.
Disclaimer: This information is for educational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
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