PNB has introduced its This fall monetary outcomes.
PNB’s gross NPAs moderated to five.73 per cent of gross advances as of March 31, 2024, from 8.74 per cent on the finish of March 2023
PNB This fall Outcomes: Punjab Nationwide Financial institution (PNB) on Thursday posted a virtually three-fold surge in its internet revenue to Rs 3,010 crore for the fourth quarter ended March 2024, aided by enchancment in core revenue and a decline in dangerous loans. Its whole revenue throughout January-March 2024 elevated to Rs 32,361 crore, in contrast with Rs 27,269 crore within the year-ago interval.
The state-owned financial institution had posted a internet revenue of Rs 1,159 crore in the identical quarter a 12 months in the past, in line with a regulatory submitting.
PNB’s curiosity revenue grew to Rs 28,113 crore throughout Q4FY24, from Rs 23,849 crore within the corresponding quarter a 12 months in the past.
On the asset high quality facet, the financial institution’s gross non-performing belongings (NPAs) moderated to five.73 per cent of gross advances as of March 31, 2024, from 8.74 per cent on the finish of March 2023. Web NPAs additionally declined to 0.73 per cent of the advances, from 2.72 per cent on the finish of 2023.
In consequence, provision for dangerous loans declined to Rs 1,958 crore, as in opposition to Rs 3,625 crore earmarked throughout the identical quarter a 12 months in the past. For the monetary 12 months ended March 2024, the financial institution’s internet revenue elevated over three-fold to Rs 8,245 crore, as in comparison with Rs 2,507 crore within the earlier fiscal.
Capital Adequacy Ratio (CRAR) improved to fifteen.97 per cent, over 15.50 per cent on March 31, 2023.
