Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Punjab National Bank
Punjab National Bank announced Q2FY24 & H1FY24 results: 1. Financial Performance: - Net profit increased to Rs 1,756 crore during Q2FY24, with YoY growth of 327.14%. - Operating profit was at Rs 6,216 crore during Q2FY24, which grew by 11.67% on a YoY basis. - Net interest income increased by 20% YoY to Rs 9,923 crore in Q2FY24. - The GNPA ratio improved by 352 bps on a YoY basis to 6.96% as of September'23. - NNPA ratio improved by 233 bps on a YoY basis to 1.47% as of September'23. 2. Business Performance: - Global Business increased by 11.26% on a YoY basis to Rs 22,51,631 crore as of September'23. - Global deposits grew by 9.75% on a YoY basis to Rs 13,09,910 crore as of September'23. - Global Advances grew by 13.43% on a YoY basis to Rs 9,41,721 crore as of September'23. - Core Retail Advances grew YoY by 16.5% to Rs 1,47,247 crore as of September'23. - Agriculture Advances grew by 4.49% on a YoY basis to Rs 1,46,598 crore in September'23. 3. Profitability: - Net profit of the bank for H1FY24 was at Rs 3,012 crore, recording a growth of 318.3% on a YoY basis. - Operating profit of the bank for H1FY24 was at Rs 12,184 crore, recording a growth of 11.3% on a YoY basis. - The net interest income of the Bank for H1FY24 was at Rs 19,427 crore, recording a growth of 22.8% on a YoY basis. 4. Asset Quality: - Gross Non-Performing Assets (GNPA) were at Rs 65,563 crore as of September'23. - Net Non-Performing Assets (NNPA) were at Rs 13,114 crore as of September'23. - Provision Coverage Ratio (PCR) Excluding TWO improved by 1,372 bps YoY to 80.0% on September 23. 5. Digital Progress: The number of Digital Transactions increased to 287 Lakh during H1FY24. - Internet Banking Services (IBS) users increased to 407 Lakhs as of September 23. - Mobile Banking Users increased to 442 Lakhs as of September 23. 6. Financial Inclusion: - PMJDY account increased to 479 lakhs as of September 23. - Credit to Micro Enterprises exceeded the National Goal of 7.50% and was at 7.67 % of ANBC. 7. Awards and Accolades: - PNB felicitated with the 'Green Ribbon Champions' award under the category- 'CSR Green Initiative of the Year'. - PNB was honoured with the 1st Prize in Rajbhasha Kirti for the year 2022-23. - The Bank was also awarded the Rajbhasha Kirti Second prize for the year 2022-23 for the in-house magazine PNB Pratibha. Result PDF30-10-2023
