Creating a record, Punjab National Bank (PNB) on Friday declared that its standalone net profit rose by 103% to Rs 4,508 crore in the December quarter of Financial Year (FY) 2024 from Rs 2,223 crore in the corresponding period last year.
Private lender’s interest income in the Q3FY25 was at Rs 31,340 crore, which was 15% higher than Rs 27,287 crore recorded in the same quarter of the last year.
This came during the market time, and this led to a surge of the PNB stocks by 5 percent, making its high of the day at Rs. 101.13 on the NSE.
The state lender paid Rs 20,307 crore as interest in the reported quarter, whereas Rs 16,995 crore was paid in the year-ago period – an increase of 19 percent. Thus, on a quarterly basis, the PAT has increased by 5% from Rs 4,303 in Q2FY25.
PNB Q3 Asset Quality
Non-Performing Asset of the PNB as of the end of December 31, 2024, is Rs 45,413.98 crore; it was Rs 47,582.25 crore in Q2 of FY: 2024-25 and Rs 60,371.38 crore in Q3 of FY: 2023-24.
It constituted 4.09 percent of the total outstanding as of December 2019 and 4Q FY 2020 from 4.48 percent of the total outstanding of 4Q FY 2020 and 6.24 percent of the total outstanding of 4Q FY 2019. Net NPAs of the bank were Rs 4437.43 crore till the Q3FY25, which was Rs 4674.24 crore in the second quarter of the financial year FY25 and Rs 8815.88 crore in the corresponding period of the last fiscal.
It was 0.41% of its revenue and was lowered from 0.46% in the second quarter of the financial year ’25 and from 0.96% in the third quarter of the financial year ’24.
The income from net interest on its investments also rose to Rs 11,032 crores in the quarter Q3 for the financial year 2024-25 from Rs 10,293 crores during the Q3 for the financial year 2023-24, thereby achieving a YoY growth of 7.2%.
PNB Q3 Deposits
The global deposits increased by 15.57 Percent on Year on Year basis from Rs.13,23,486 crore, it stood at Rs.15,29,699 crore as of December 2024.