PNB Q2 FY25 results: Net profit increases 145% to Rs 4,303 crore

The bank's net interest income (NII) increased to Rs 10,517 crore in Q2 FY25 from Rs 9,923 crore in Q2 FY24, showing an improvement of 5.99 per cent on a year-on-year (Y-o-Y) basis

State-owned Punjab National Bank (PNB) on Monday reported a 145 per cent year-on-year increase in its net profit at Rs 4,303 crore for the second quarter (Q2) of 2024-25 (FY25). The net profit was Rs 1,756 crore in the year-ago period.

 

The bank’s net interest income (NII) grew 5.99 per cent Y-o-Y to Rs 10,517 crore in Q2.

 

The gross non-performing asset (GNPA) ratio of the bank improved by 248 basis points (bps) Y-o-Y to 4.48 per cent as of September, from 6.96 per cent in the year-ago period. The net non-performing asset (NNPA) ratio increased by 101 bps Y-o-Y to 0.46 per cent in Q2, from 1.47 per cent in September 2023.

 

The bank’s CASA (Current Account and Savings Account) deposits grew 3.4 per cent Y-o-Y to Rs 5.56 trillion. As on September 30, the bank has 10,159 domestic branches and 2 international branches. 

 

PNB’s total retail credit increased by 14.6 per cent Y-o-Y to Rs 2.5 trillion as of September. The bank’s core retail advances recorded 19 per cent Y-o-Y growth.

 

Housing loans grew by 19.5 per cent Y-o-Y to Rs 1.09 trillion, while vehicle loans posted 25 per cent Y-o-Y growth, reaching Rs 22,543 crore. Moreover, agriculture advances grew by 11.1 per cent Y-o-Y to Rs 1.62 trillion, and MSME advances increased by 8.9 per cent Y-o-Y to Rs 1.51 trillion.

 

RAM (retail, agriculture, and MSME) advances grew by 12.03 per cent Y-o-Y to Rs 5.64 trillion as of September from Rs 5.03 trillion in the year-ago period. The credit-deposit ratio improved to 72.82 per cent in Q2, up from 71.89 per cent in September 2023.

 

The CRAR (capital to risk-weighted assets ratio) improved 127 bps to 16.36 per cent in Q2 from 15.09 per cent in the year-ago period.

 

On the digital front, PNB is expanding its presence, with the number of PNB One activated users rising to 20 million as on September 30, 2024, from 15.3 million in September 2023, growing 30.7 per cent Y-o-Y. Additionally, the number of WhatsApp Banking users increased 58.7 per cent Y-o-Y to 4.3 million in Q2 from 2.7 million in the year-ago period.