Punjab National Bank Q1 FY25 results, net profit up by 159% YoY

State-owned Punjab National Bank has announced the first quarterly results of the current financial year where net Profit increased Y-o-Y by 159% to Rs 3,252 Crore in Q1 FY’25 as against Rs 1,255 Crore in Q1 FY’24.

The Bank’s Net Interest Income (NII) increased to Rs 10,476 Crore in Q1 FY’25 from Rs 9,504 Crore in Q1 FY’24 showing an improvement of 10.23% on Y-o-Y basis. Operating Profit increased Y-o-Y by 10.27% to Rs 6,581 Crore in Q1 FY’25 as against Rs 5,968 Crore in Q1 FY’24.

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In terms of asset quality, the Gross Non-Performing Assets (GNPA) declined by Rs 19,636 Crore to Rs 51,263 Crore as on June’24 from Rs 70,899 Crore as on June’23. Meanwhile, the Net Non-Performing Assets (NNPA) declined by Rs 11,199 Crore to Rs 5,930 Crore as on June’24 from Rs 17,129 Crore as on June’23.

Concerning Business Growth, the CASA Deposits increased to Rs 5,49,079 Crore recording a Y-o-Y growth of 3.4%.

The Provision Coverage Ratio (including TWO) improved by 607 bps on Y-o-Y basis to 95.90% as on June’24 from 89.83% as on June’23.

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