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This is an archive article published on May 19, 2023
PNB Q4 Results: Lender’s profit grows multi-fold to Rs 1158.61 crore
PNB Q4 Results: The bank's board has recommended a dividend of Rs 0.65 per equity share (32.5 per cent) of face value of Rs 2 each for fiscal 2023.
2 min readUpdated: May 19, 2023 03:57 PM IST
PNB Q4 Results: The lender's consolidated net profit jumped 451.10 per cent to Rs 1864.34 crore in the period under review, from Rs 3382.9 crore in Q4FY23. (File image)
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PNB Q4 Results: Lender’s profit grows multi-fold to Rs 1158.61 crore
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Public sector lender Punjab National Bank (PNB) on Friday reported that its standalone net profit in the March quarter jumped multi-fold year-on-year (YoY) to Rs 1158.61 crore. The bank’s standalone profit jumped 474.7 per cent in Q4FY23, from Rs 2015.7 crore in the same period last year.
The lender’s consolidated net profit jumped 451.10 per cent to Rs 1864.34 crore in the period under review, from Rs 3382.9 crore in Q4FY23.
The bank’s board has recommended a dividend of Rs 0.65 per equity share (32.5 per cent) of face value of Rs 2 each for fiscal 2023.
PNB’s net NPAs also fell to 2.72 per cent in the quarter under review from 4.8 per cent in the same quarter a year ago, and 3.30 per cent the December quarter.
PNB reported that its gross non-performing assets (GNPAs) fell to 8.74 per cent during the quarter from 11.78 per cent in the January-March quarter. Its net interest income (NII) in the same quarter jumped 30 per cent to Rs 9,499 crore, compared to Rs 7,304 crore in Q4FY22.
However, for the full fiscal of 2022-23, PNB’s standalone net profit tanked 27 per cent to Rs 2,507.20 crore from Rs 3,456.96 crore a year ago.
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