Its Return on Assets (RoA) for Quarter crossed 1% Mark
FinTech BizNews Service
Mumbai, 28 October, 2024: Punjab National Bank announced Q2FY25 results today.
Net Profit increased Y-o-Y by 145% to Rs4,303 Crore in Q2 FY’25 as against Rs1,756 Crore in Q2 FY’24.
Return on Assets (RoA) improved to 1.02% in Q2 FY’25 from 0.46% in Q2 FY’24.
Return on Equity (RoE) improved to 19.91% in Q2 FY’25 from 10.15% in Q2 FY’24.
Net Interest Income (NII) increased to Rs10,517 Crore in Q2 FY’25 from Rs9,923 Crore in Q2
FY’24 showing an improvement of 5.99% on Y-o-Y basis.
Global Net Interest Margin (NIM) stands at 2.99% in HY1FY’25 and 2.92% in Q2 FY’25.
Operating Profit increased Y-o-Y by 10.25% to Rs6,853 Crore in Q2 FY’25 as against Rs6,216
Crore in Q2 FY’24.
GNPA ratio improved by 248 bps on Y-o-Y basis to 4.48% as on September’24 from 6.96% as
on September’23.
NNPA ratio improved by 101 bps on Y-o-Y basis to 0.46% as on September’24 from 1.47% as
on September’23.
Provision Coverage Ratio (including TWO) improved by 476 bps on Y-o-Y basis to 96.67% as on
September’24 from 91.91% as on September’23.
Provision Coverage Ratio (Excluding TWO) improved by 1018 bps on Y-o-Y basis to 90.18% as
on September’24 from 80.00% as on September’23.
Credit Cost improved by 123 bps on Y-o-Y basis to 0.08% in Q2 FY’25 from 1.31% in Q2 FY’24.
Global Business grew by 11.93% on Y-o-Y basis to Rs25,20,246 Crore as on September’24 from
Rs22,51,631 Crore as on September’23.
Global Deposits registered a growth of 11.33% on Y-o-Y basis to Rs14,58,342 Crore as on
September’24 from Rs13,09,910 Crore as on September’23.
Global Advances increased by 12.76% on Y-o-Y basis to Rs10,61,904 Crore as on September’24
from Rs9,41,721 Crore as on September’23.
RAM Advances grew by 12.03% on Y-o-Y basis to Rs5,64,049 Crore as on September’24 from
Rs5,03,489 Crore as on September’23.
CD Ratio improved to 72.82% as on September’24 as against 71.89% in September’23.
Business Performance in Key Parameters
Deposits
Savings Deposits increased to Rs4,88,635 Crore registering a Y-o-Y growth of 3.7%.
Current Deposits increased to Rs68,104 Crore registering a Y-o-Y growth of 1.6%.
CASA Deposits increased to Rs5,56,739 Crore recording a Y-o-Y growth of 3.4%.
CASA Share of the bank stands at 39.31% as on September’24.
Total Term Deposit witnessed a growth of 16.8% on Y-o-Y basis to Rs9,01,603 Crore as on
September’24.
Advances
Total Retail credit increased by 14.6% Y-o-Y to Rs2,50,149 Crore as on September’24.
The bank grew under Core Retail Advances recording a Y-o-Y growth of 19.0%. Within
Core Retail Credit:
• Housing Loan grew by 19.5% Y-o-Y to Rs1,09,948 Crore.
• Vehicle loan posted a growth of 25.0% Y-o-Y to reach Rs22,543 Crore.
Agriculture Advances grew by 11.1% on Y-o-Y basis to Rs1,62,829 Crore.
MSME Advances increased Y-o-Y by 8.9% to Rs1,51,071 Crore.
Asset Quality
Gross Non-Performing Assets (GNPA) declined by Rs17,981 Crore to Rs47,582 Crore as on
September’24 from Rs65,563 Crore as on September’23.
Net Non-Performing Assets (NNPA) declined by Rs8,440 Crore to Rs4,674 Crore as on
September’24 from Rs13,114 Crore as on September’23.
Profitability
Net Profit for HY1FY’25 was at Rs7,555 Crore recording growth of 150.8% on YoY basis.
Operating Profit for HY1FY’25 was at Rs13,434 Crore recording growth of 10.3% on YoY
basis.
Net Interest Income for HY1FY’25 was at Rs20,993 Crore recording growth of 8.1% on YoY
basis.
Total Income for Q2 FY’25 was at Rs34,447 Crore and Rs66,613 Crore for HY1FY’25
recording growth of 17.2% and 14.9%, respectively on YoY basis.
Total Interest Income for Q2 FY’25 was at Rs29,875 Crore and Rs58,431 Crore for HY1FY’25
recording growth of 13.4% and 13.5%, respectively on YoY basis.
Non-interest income for Q2 FY’25 was at Rs4,572 Crore and Rs8,182 Crore for HY1FY’25
recording growth of 51.0% and 26.6%, respectively on YoY basis.
Total Interest Expenses for Q2 FY’25 was at Rs19,358 Crore and Rs37,439 Crore for
HY1FY’25, increased by 17.8% and 16.7%, respectively on YoY basis.
Operating Expenses for Q2 FY’25 was at Rs8,235 Crore and Rs15,740 Crore for HY1FY’25,
increased by 22.3% and 14.8%, respectively on YoY basis.
Core Capital of Rs5,000 Crore Raised through QIP
16.6 times subscription - Green Shoe (Rs2,500 Crore).
68% of the bids received from Foreign Institutional Investors (FIIs), 17% from Mutual Funds
(MFs) and 8% from Insurance Co.
Number of Shares increased by 48.19 Crores from 1101.10 Crores to 1149.29 Crores.
GoI Shareholding remains above 70%.
CET/Tier – 1/CRAR increased by 65 bps.
Capital Adequacy
CRAR increased to 16.36% as on September’24 from 15.09% as on September’23
registering an improvement of 127 bps.
Tier-I Capital was at 13.63% (CET-1 improved to 11.59% as on September’24 from
10.23% as on September’23 and AT-1 improved to 2.04% as on September’24 from
1.79% as on September’23) and Tier-II at 2.73% as on September’24.
Efficiency/Productivity Ratio
Global Yield on Advances was at 8.31% in Q2FY’25 and 8.32% in HY1 FY’25 as compared
to 8.15% in Q2FY’24 and 8.10% in HY1FY’24.
Global Cost of Deposits increased YoY by 32 bps to 5.18% in Q2FY’25 and 35 bps to
5.14% for HY1FY’25.
Yield on Investment improved YoY by 16 bps to 7.03% in Q2FY’25 and 25 bps to 7.04% for
HY1FY’25.
Return on Assets (RoA) improved to 0.92% in HY1FY’25 from 0.40% in HY1FY’24.
Return on Equity (RoE) improved to 18.20% in HY1FY’25 from 8.82% in HY1FY’24.
Business per employee improved to Rs25.26 Crore as on September’24 from Rs22.65 Crore
as on September’23. Business per branch improved to Rs240.72 Crore as on September’24
from Rs217.65 Crore as on September’23.
Net profit per employee improved to Rs17.63 lakh in Q2FY’25 from Rs7.20 lakh in Q2FY’24.
Net profit per branch improved to Rs168.03 lakh in Q2FY’25 from Rs69.21 lakh in Q2FY’24.
Priority Sector Achievement
Priority Sector Advances exceeded the National Goal of 40% and stands at 41.10% of
ANBC.
Agriculture advances exceeded the National Goal of 18% and stands at18.58% of ANBC.
Credit to Small & Marginal Farmers exceeded the National Goal of 10% and stands at
10.36% of ANBC.
Credit to Weaker Sections surpassed the National Goal of 12% and stands at 13.89% of
ANBC
Credit to Micro Enterprises surpassed the National Goal of 7.50% and stands at 8.15% of
ANBC.
Financial Inclusion
PMJDY accounts increased to 5.26 Crore as on September’24 from 4.79 Crore as on
September’23.
Enrollments under PMJJBY, PMSBY & APY as on September’24 are as under:
(No. In Lacs)
JANSURAKSHA SCHEME ENROLLMENT UP TO 30.09.2023 30.09.2024
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) 60.31 67.26
Pradhan Mantri Suraksha Bima Yojana (PMSBY) 239.07 272.63
Atal Pension Yojana (APY) 31.71 41.86
Digital Progress and Initiatives
Number of PNB One Activated users increased to 200 Lakh as on 30.09.2024 from 153
Lakh as on 30.09.2023 registering a growth of 30.7% on Y-o-Y basis.
Number of WhatsApp Banking users increased to 43.5 Lakh as on 30.09.2024 from 27.4
Lakh as on 30.09.2023 registering a growth of 58.7% on Y-o-Y basis.
Lending through Digital Journeys crossed Rs17,500+ Crore.
PNB One Biz (Corporate M-Banking App) launched & 12000+ customers onboarded.
Key Initiatives:
o Disbursement of Loan under e-PM Vishwakarma through CBDC
o PNB Loyalty Rewards Program for PNB One app Users
o Download of PPF/SSA Statement through PNB One
Distribution Network
As on 30 th September 2024, the Bank has 10,159 domestic branches and 2 International
Branches. Out of total no. of branches, Bank has 63.31% branches in Rural & Semi-
Urban areas.
The distribution of branches is as under:
Category No. of Branches %age Share
Rural 3934 38.72%
Semi Urban 2498 24.59%
Urban 2003 19.72%
Metro 1724 16.97%
The bank also has 12,040 ATMs and 33,010 BCs as part of its distribution network
making the total number of 55,209 touch points as on 30.09.2024.
Awards & Accolades
Rajbhasha Kirti Puruskar for 2023-24, by Ministry of Home Affairs, GOI
o 1 st Prize for PNB Pratibha Magazine &
o 2 nd Prize – Overall
Global Fintech Awards 2024 - 1 st prize in category of Green Banking initiative of
the Year for its PNB One onboarding through Aadhaar by Payment Council of
India, NPCI and Fintech Convergence Council (FCC).
Recognition for contribution to ambitious 200 GW Energy generation from
renewable sources - 3 rd Highest Achiever amongst PSBs for maximum loans
disbursed to renewable energy sector by Ministry of New and Renewable Energy.
Green Ribbon Champions award - Bank’s green initiatives under project
PALASH by News18
Award of excellence for outstanding performance - 2 nd Best Performing Bank
under RAPID campaign under Agriculture Infrastructure fund by Ministry of
Agriculture and Farmer Welfare.
Best CFO of India – 2024- Shri Dilip Kumar Jain awarded as the “Best CFO of
India – Bank (Large Cap Category)” for the year 2024 by Dalal Street Investment
Journal.
2 nd ICC Emerging Asia Banking Conclave & Awards, by Indian Chamber of
Commerce (ICC) - Best performance on Asset Quality & Profitability.
