The state-owned banking behemoth Punjab National Bank (PNB) recently announced that it had clocked its highest-ever quarterly standalone profit at Rs 3,252 crores in April-June FY25, helped by a decline in bad loans and improvement in interest income. PNB posted a net profit of Rs 1,255 crore in the June quarter of FY24.
PNB’s Managing Director, Mr. Atul Kumar Goel, said, “This is the highest ever quarterly profit recorded by the bank on account of improvement in various parameters, including net interest income, recovery and CASA.“
The total income in the quarter rose to Rs 32,166 crore from Rs 28,579 crore in the same period a year ago while the lender’s interest income also increased to Rs 28,556 crore from Rs 25,145 crore in the same quarter a year ago. PNB’s Net Interest Income (NII) increased to Rs 10,476 crore in Q1 FY25 from Rs 9,504 crore earlier, showing a 10.23% surge.
Gross Non-Performing Assets (NPAs) declined to 4.98% of gross advances by June 2024 from 7.73% in the same quarter a year ago. Similarly, net NPAs declined to 0.60% from 1.98% — making provisions for bad loans go down drastically to Rs 792 crore in April-June FY25 as against Rs 4,374 crore in the year-ago period.