On Friday, Punjab National Bank (PNB) slipped 3.53 per cent after the consolidated net profit tumbled 69.9 per cent to Rs 308.44 crore on a 6.7 per cent fall in total income to Rs 21,294 crore in Q1 FY23 compared to last year. Net interest income (NII) improved by 4.27 per cent YoY to Rs 7,543 crore in Q1 FY23 from Rs 7234 crore posted in Q1 FY22. Net interest margin (NIM) improved by five bps YoY to 2.79 per cent in Q1 FY23.
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The revenue from operating profit declined 15.95 per cent YoY to Rs 5,379 crore in the quarter ended 30 June 2022. Profit before tax (PBT) shrunk by 58.52 per cent to Rs 589 crore in Q1 FY23 over Q1 FY22. The bank’s provisions and contingencies (excluding tax provisions) slipped 3.8 per cent to Rs 4,790.19 crore in Q1 FY23 over Q1 FY22. Of this, provisions for NPA were Rs 4,814 crore (up 48.21 per cent YoY).
The gross non-performing assets (NPAs) stood at Rs 90,167 crore on 30 June 2022 against Rs 92,448 crore on 31 March 2022 and Rs 1,04,075 crore as on 30 June 2021. The ratio of gross NPAs to gross advances improved by 306 bps to 11.27 per cent as on 30 June 2022 from 14.33 per cent. The ratio of net NPAs to net advances improved by 156 bps to 4.28% as on 30 June 2022 from 5.84 per cent. While the bank’s deposits rose by 3.56% YoY to Rs 11,36,747 crore, loans & advances increased by 12.3% to Rs 7,42,643 crore on 30 June 2022.
Punjab National Bank is a public sector bank; the government of India (GOI) held a 73.15 per cent stake; the bank had 10,058 branches and 13,219 ATMs.
