Punjab National Bank reported 232.1% increase in standalone net profit to Rs. 1,023 crore in Q1 FY22 from Rs 308 crore in Q1 FY21.
Total income stood at Rs 22,515 crore during Q1 FY22, down by 7.3% from Rs 24,293 crore during Q1 FY21.
Net interest income (NII) grew by 6.6% YoY to Rs 7,227 crore in Q1 FY22.
Global net interest margin (NIM) improved by 23 bps to 2.73% in Q1 FY22 from 2.50% in Q1 FY21.
Operating Profit grew by 15.5% YoY to Rs 6,099 crore in Q1 FY22.
Profit before tax in Q1 FY22 was at Rs 1,420 crore, up by 139.1% from Rs 594 crore in Q1 FY21.
The bank's gross non-performing assets (NPAs) were Rs 1,04,075.56 crore as on 30 June 2021 as against Rs 1,01,849.34 crore as on 30 June 2020 and Rs 1,04,423.42 crore as on 31 March 2021.
The ratio of gross NPAs to gross advances stood at 14.33% as on 30 June 2021 as against 14.11% as on 30 June 2020 and 14.12% as on 31 March 2021.
The ratio of net NPAs to net advances stood at 5.84% as on 30 June 2021 as against 5.39% as on 30 June 2020 and 5.73% as on 31 March 2021.
Provisions other than tax amounted to Rs 4,679 crore in Q1 FY22 as against Rs 4,686 crore in Q1 FY21. Of this, provisions for NPAs aggregated to Rs 3,248 crore in Q1 FY22 as compared with Rs 4,836 crore in Q1 FY21.
Provision Coverage Ratio (PCR) excluding TWO stood at 62.93% in June 2021 against 65.34% in June 2020.
CRAR improved to 15.19% in June 2021 from 12.63% in June 2020. Out of which Tier-I is 12.47%, CET-1 is 11.56% and Tier-II CRAR is 2.72% as on 30 June 2021.
While the bank's domestic deposits increased by 3.32% YoY to Rs 10,78,937 crore, domestic advances registered a growth of 0.84% YoY to Rs 7,08,082 crore as on 30 June 2021.
Domestic CASA Share improved by 170 bps on YoY basis to 45.15% in June'21. CASA deposits grew by 7.34% on YoY basis to Rs 4,87,136 crore in June'21.
Punjab National Bank is a public sector banks. As on 30 June 2021, the bank has 10,641 number of branches. The government of India held 73.15% stake in the bank as on 30 June 2021.
The scrip shed 0.98% to currently trade at Rs 40.30 on the BSE.
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