DEVANGSHU DATTA
Punjab National Bank (PNB) reported a healthy third quarter 0f2023-24 financial year (Q3FY24). Net profit surged 254 percent year-on-year (Y-o-Y) to %2,220 crore, while net interest income (NII) grew 12 per cent Y-oY t0310,300 crore asnet interest margins (NIMs) improved 4 basis points (bps) quarter-on-quarter (Q-0-Q)to3.15percent. Theloan book grew at 15per cent Y-o-Y (3percent Q-0-Q)to9.2trillion. Retail loansdeclined 1.8 per cent Q-0-Q. Deposit growth was relatively low at 9 per cent Y-0-Y (1per cent Q-0-Q)toX3trillion. The credit deposit ratioisstill low at 69 per cent which gives room forgrowth in advances. The CASA ratio increased 32bps Q-0-Qto42.5percent. Slippages dropped to31,800 crore (0.9 percent annualised) leading to 72 bpsand 51 bps decline Q-0-Qin grossnonperforming assets (GNPA) and net NPA ratios respectively to 6.24 percent and 0.96 per cent, respectively. The provisioning coverage ratio (PCR) rose 540 bps Q-0-Qto85Spercent.
0 Comments