On Friday, Punjab National Bank said that its standalone net profit for the third quarter, which ended on December 31, 2024, had doubled to Rs 4,508 crore. In the previous year's October–December quarter, the bank made a net profit of Rs 2,223 crore.
According to a regulatory statement by Punjab National Bank (PNB), the bank's overall revenue climbed to Rs 34,752 crore in the third quarter of the current fiscal year from Rs 29,962 crore in the same time last year.
The bank's interest income increased from Rs 27,288 crore during the same time last fiscal year to Rs 31,340 crore during the quarter. In comparison to Rs 10,293 crore in the same quarter, the bank's Net Interest Income (NII) increased 7.17 percent to Rs 11,032 crore.
Regarding asset quality, the bank's gross non-performing assets ratio decreased from 6.24 percent to 4.09 percent in the previous year. Similarly, at the conclusion of the third quarter of the previous fiscal year, net non-performing assets (NPAs), or bad loans, decreased from 0.96 percent to 0.41 percent. Consequently, provisions for bad loans decreased from Rs 2,994 crore in the previous year to Rs 318 crore in the current quarter.
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