Punjab National Bank Q4FY24 results: The board recommended a dividend of Rs 1.50 per equity share of face value of Rs 2 each for the financial year 2023-24
Net interest income grew 12% YoY to Rs 10,300 crore as net interest margins improved 4 basis points QoQ to 3.15%
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Total income in the quarter under review rose to Rs 23,298.53 crore as against Rs 15,967.49 crore earlier, PNB said in a regulatory filing
Punjab National Bank on Monday said its overall credit growth is likely to be at around 4-6 per cent in the current fiscal year as it expects the economy to return to normalcy from October onwards.
In terms of ratio, the GNPA for the recently concluded quarter improved sequentially, but was flat YoY, to 16.3 per cent. The NNPA ratio was 7.18 per cent.
Among the key monitorables, analysts would watch out for an update on integration and merger of United Bank of India and Oriental Bank of Commerce with PNB.
The public sector lender's slippages jumped 38 per cent sequentially from Rs 5,412 crore reported in Q1FY20 to Rs 7,460 crore in the quarter under review, the bank's management said.
Provisions and contingencies stood at Rs 2,023.31 crore, down 64.8 per cent against 5,758.16 crore logged in the year-ago period.
Most analysts expect the bank to report loss in the recently-concluded quarter coupled with a fall in the net interest income (NII).
The bank's gross non-performing assets (NPA) declined to 15.50% by March 2019, compared to 18.38% by end of December 2018
Gross NPA for the period came in at 16.33 per cent against 12.11 per cent in the corresponding quarter of last fiscal.
The bank earned Rs 4 billion in the first half of the current financial year
Gross NPAs stood at 13.66% in April-June period