Recently the news has come on the internet that Punjab National Bank shares declared 3.36% to 72.20 in early trade on Friday after the state-run lender published robust performance for the September finish quarter (Q2FY24), beating analyst estimates, with a 20% YoY and 4.4% QoQ surge in net interest. Since the news has come on the internet it went viral on the social media platforms. Currently, this news has been gaining huge attention from people and now many people are super curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article, so let’s continue the article.
Punjab National Bank Q2 result 2023
The net interest income (NII) to 9,923 crore in Q2FY24, while the net interest margin (Domestic) came in at 3.24% against 3.11% in Q2FY23 and 3.21% in Q1FY24.The bank’s pre-provision driving profit (PPOP) stood at 6,6216 crores for the quarter that ended 30 September 2023, enlisting a growth of 11.67% over the corresponding quarter of the last year at 5,567 crores. The conditions fell 29.8% YoY to 3,444 crore. Scroll down to the next page for more information about the news.
As per the report, the drop in provisions and progress in operating profit growth led the bank to record a net profit of 1,756 crore in Q2 FY24, the most elevated in 14 quarters and a 32.7% YoY improvement. During the same period the previous year, the bank recorded a net profit of 411 crore. On the asset quality front, the gross NPA ratio of the bank declined to 6.96% in Q2FY24 and reached 10.48% in Q2FY23, while the net NPA ratio stood at 1.47% in Q2FY24, down from 3.80% in Q2FY23. Currently, this news has been making headlines on the internet. You are on the right page for more information about the news, so please read the complete article.
As far as we know, during the quarter, the bank’s retail loan portfolio, which encompasses vehicle, personal loans, and education, demonstrated robust growth. As per the bank’s profits report, home loans grew 13.7% year-on-year (YoY) to reach 87,430 crores, vehicle loans grew 28.3% y-o-y to 18,010 crores, and personal loans segment y-o-y A growth of 39.0% was observed year-on-year, which stood at 19,868 crores. In total, the overall retail loan portfolio swelled by 40.42% YoY, growing from 1,55,409 crore in September 2022 to 218230 crore in September 2023. Here we have shared all the information that we had if we get any information then we will update you as soon as possible. Stay tuned to us for more updates.