Punjab National Bank’s net profit increased Y-o-Y by 159% to Rs3,252 Crore In Q1FY25
FinTech BizNews Service
Mumbai, July 27, 2024: Punjab National Bank announced its Q1FY25 results today.
⦿ Net Profit increased Y-o-Y by 159% to Rs3,252 Crore in Q1 FY’25 as against Rs1,255 Crore in Q1 FY’24.
⦿ Return on Assets (RoA) improved to 0.82% in Q1 FY’25 from 0.34% in Q1 FY’24.
⦿ Return on Equity (RoE) improved to 16.82% in Q1 FY’25 from 7.50% in Q1 FY’24.
⦿ Net Interest Income (NII) increased to Rs10,476 Crore in Q1 FY’25 from Rs9,504 Crore in Q1 FY’24 showing an improvement of 10.23% on Y-o-Y basis.
⦿ Global Net Interest Margin stands at 3.07% in Q1 FY’25.
⦿ Operating Profit increased Y-o-Y by 10.27% to Rs6,581 Crore in Q1 FY’25 as against Rs5,968 Crore in Q1 FY’24.
⦿ GNPA ratio improved by 275 bps on Y-o-Y basis to 4.98% as on June’24 from 7.73% as on June’23.
⦿ NNPA ratio improved by 138 bps on Y-o-Y basis to 0.60% as on June’24 from 1.98% as on June’23.
⦿ Provision Coverage Ratio (including TWO) improved by 607 bps on Y-o-Y basis to 95.90% as on June’24 from 89.83% as on June’23.
⦿ Provision Coverage Ratio (Excluding TWO) improved by 1259 bps on Y-o-Y basis to 88.43% as on June’24 from 75.84% as on June’23.
⦿ Slippage ratio improved by 43 bps on Y-o-Y basis to 0.76% as on June’24 from 1.19% as on June’23.
⦿ Credit Cost improved by 167 bps on Y-o-Y basis to 0.32% in Q1 FY’25 from 1.99% in Q1 FY’24.
⦿ Global Business grew by 10.03% on Y-o-Y basis to Rs24,36,929 Crore as on June’24 from Rs22,14,741 Crore as on June’23.
⦿ Global Deposits registered a growth of 8.50% on Y-o-Y basis to Rs14,08,247 Crore as on June’24 from Rs12,97,905 Crore as on June’23.
⦿ Global Advances increased by 12.20% on Y-o-Y basis to Rs10,28,682 Crore as on
June’24 from Rs9,16,836 Crore as on June’23.
⦿ CD Ratio improved to 73.05% as on June’24 as against 71.79% in March’24 & 70.64%
in June’23.
Business Performance in Key Parameters
Deposits
⦿ Savings Deposits increased to Rs4,84,377 Crore registering a Y-o-Y growth of 4.4%.
⦿ Current Deposits stood at Rs64,702 Crore as on June’24.
⦿ CASA Deposits increased to Rs5,49,079 Crore recording a Y-o-Y growth of 3.4%.
⦿ CASA Share of the bank stands at 40.08% as on June’24.
⦿ Retail Term Deposit (less than 3 Crores) witnessed a growth of 9.2% on Y-o-Y basis to Rs5,85,598 Crore in June’24.
Advances
⦿ Total Retail credit increased by 14.4% Y-o-Y to Rs2,34,564 Crore in June’24.
⦿ The bank grew under Core Retail Advances recording a Y-o-Y growth of 15.5%.
Within Core Retail Credit:
• Housing Loan grew by 14.7% Y-o-Y to Rs1,01,796 Crore.
• Vehicle loan posted a growth of 26.9% Y-o-Y to reach Rs21,726 Crore.
⦿ Agriculture Advances grew by 15.8% on Y-o-Y basis to Rs1,68,503 Crore
⦿ MSME Advances increased Y-o-Y by 7.9% to Rs1,42,886 Crore.
Asset Quality
⦿ Gross Non-Performing Assets (GNPA) declined by Rs19,636 Crore to Rs51,263 Crore as on June’24 from Rs70,899 Crore as on June’23.
⦿ Net Non-Performing Assets (NNPA) declined by Rs11,199 Crore to Rs5,930 Crore as on June’24 from Rs17,129 Crore as on June’23.
Profitability
⦿ Total Income of the Bank was booked at Rs32,166 Crore for Q1 FY’25 from Rs28,579 Crore for Q1 FY’24, recording a growth of 12.5% on Y-o-Y basis.
⦿ Total Interest Income of the Bank was at Rs28,556 Crore for Q1 FY’25 from Rs25,145 Crore for Q1 FY’24, recording a growth of 13.6% on Y-o-Y basis.
⦿ Fee based income of the Bank was at Rs2,077 Crore for Q1 FY’25 from Rs1,785 Crore for Q1 FY’24, recording a growth of 16.3% on Y-o-Y basis.
Efficiency/Productivity Ratio
⦿ Domestic Net Interest Margin stands at 3.21% in Q1 FY’25.
⦿ Global Yield on Advances improved Y-o-Y by 28 bps to 8.33% in Q1 FY’25.
⦿ Business per employee improved to Rs24.80 Crore in June’24 from Rs22.22 Crore in June’23.
⦿ Business per branch improved to Rs233.26 Crore in June’24 from Rs214.77 Crore in June’23.
⦿ Net profit per employee improved to Rs13.66 Lakhs in June’24 from Rs5.18 Lakhs in June’23.
⦿ Net profit per branch improved to Rs128.47 Lakhs in June’24 from Rs49.95 Lakh in June’23.
Capital Adequacy
⦿ CRAR increased to 15.79% as on June’24 from 15.54% as on June’23 registering an improvement of 25 bps.
⦿ Tier-I Capital was at 13.04% (CET-1 improved to 10.95% as on June’24 from 10.85% as
on June’23 and AT1 improved to 2.09% as on June’24 from 1.44% as on June’23) and Tier-II at 2.75% as on June’24.
Priority Sector Achievement
⦿ Priority Sector Advances exceeded the National Goal of 40% and stands at 40.29% of ANBC.
⦿ Agriculture advances exceeded the National Goal of 18% and stands at 18.29% of ANBC.
⦿ Credit to Small & Marginal Farmers exceeded the National Goal of 10% and stands at 10.16% of ANBC.
⦿ Credit to Weaker Sections surpassed the National Goal of 12% and stands at 13.57% of ANBC
⦿ Credit to Micro Enterprises surpassed the National Goal of 7.50% and stands at 7.70% of ANBC.
Financial Inclusion
⦿ PMJDY accounts increased to 5 Crore 13 Lakhs as on June’24 from 4 Crore 66 Lakhs in
June’23.
Digital Progress and Initiatives
⦿ Number of PNB One Activated users increased to 187 Lakh as on 30.06.2024 from 125
Lakh as on 30.06.2023 registering a growth of 50% on Y-o-Y basis.
⦿ Number of WhatsApp Banking users increased to 34.0 Lakh as on 30.06.2024 from 14.6
Lakh as on 30.06.2023 registering a growth of 133% on Y-o-Y basis.
⦿ Total Digital Loan Disbursement improved by 48.5% to Rs2,240 Crore during Q1 FY’25
from Rs1,508 Crore during Q1 FY’24.
⦿ PNB is the 1st Bank to Launch PM Vishwakarma Scheme in Digital Mode.
Distribution Network
⦿ As on 30th June 2024, the Bank has 10,150 domestic branches and 2 International Branches.
⦿ The distribution of branches is as under:
Category No. of Branches
Metro 1724 -17.0%
Urban 2001 -19.7%
Semi Urban 2491 -24.5%
Rural 3934 -38.8%
⦿ The bank also has 12,080 ATMs and 32,630 BCs as part of its distribution network.
Social Media Presence of the Bank: (No. of Followers)
⦿ Facebook: 22,84,935 followers https://www.facebook.com/pnbindia/
⦿ X (Twitter): 4,53,732 followers https://twitter.com/pnbindia
⦿ Instagram: 4,67,556 followers https://www.instagram.com/pnbindia
⦿ LinkedIn: 1,36,626 followers https://in.linkedin.com/company/pnbindia
⦿ YouTube: 1,97,495 subscribers https://www.youtube.com/pnbindia
⦿ Threads: 26,100 followers https://www.threads.net/@pnbindia
