 "PNB Q3FY25 results: Net profit rises 102% to Rs 4,508 cr, NII up 7.2%")
Punjab National Bank (PNB) on Friday reported a 102.8 per cent year-on-year (Y-o-Y) increase in its net profit at Rs 4,508 crore for the third quarter of the financial year 2025 (Q3FY25). The net profit was Rs 2,223 crore in the year-ago period.
The bank’s net interest income (NII) grew 7.22 per cent Y-o-Y to Rs 11,032 crore in Q3.
The gross non-performing asset (GNPA) ratio of the bank improved by 215 basis points (bps) Y-o-Y to 4.09 per cent as of December 31, from 6.24 per cent in the year-ago period. The net non-performing asset (NNPA) ratio increased by 55 bps Y-o-Y to 0.41 per cent in Q3.
The bank’s CASA (Current Account and Savings Account) deposits grew 2.7 per cent Y-o-Y to Rs 5. 62 trillion.
As on December 31, savings deposits increased to Rs 4.92 trillion registering a Y-o-Y growth of 2.8 per cent and current deposits increased to Rs 70,018 crore, a 2 per cent increase.
PNB’s total retail credit increased by 14.6 per cent Y-o-Y to Rs 2.5 trillion as of December 31. The bank’s core retail advances recorded 19 per cent Y-o-Y growth.
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The results also said that the bank’s housing loan grew by 17.3 per cent Y-o-Y to Rs 1.11 trillion and vehicle loan posted a growth of 26.8 per cent Y-o-Y to reach Rs 24,663 crore.
Agriculture advances grew by 13.2 per cent on Y-o-Y basis to Rs 1.74 trillion and MSME advances increased Y-o-Y by 10.7 per cent to Rs 1,59,383 crore.
As on December 31, 2024, the bank has 10,168 domestic branches and two international branches. Out of the total number of branches, the bank has 63.3 per cent branches in rural & semi-urban areas. The PNB also has 12,034 ATMs and 32,139 BCs as part of its distribution network making the total number of 54,341 touch points.
The bank continues to expand its digital footprints, the number of PNB One Activated users increased to 20.8 million as on December 31 from 15.7 million last year registering a growth of 32.5 per cent on Y-o-Y basis.
Moreover, the number of WhatsApp Banking users increased to 5.27 million from 2.78 million last year, registering a growth of 89.6 per cent Y-o-Y basis.
PNB’s credit cost improved by 114 bps on Y-o-Y basis to 0.12 per cent in Q3 FY’25 from 1.26 per cent in Q3 FY’24. However, global business grew by 15.25 per cent on Y-o-Y basis to Rs 26,39,991 crore as on December’ 24.