Punjab National Bank’s provisioning in Q2 declined to Rs 3,444 crore in the course of the quarter underneath evaluate.
PNB Q2 Results: Punjab National Bank’s curiosity earnings rises 31 per cent to Rs 26,355 crore in July-September 2023, towards Rs 20,154 crore a yr in the past
Punjab National Bank (PNB) on Thursday posted over 4-fold bounce in its web revenue to Rs 1,756.13 crore within the second quarter ended September 30, 2023. The bounce within the state-owned financial institution’s web revenue was primarily on account of upper curiosity earnings and low provisioning.
The financial institution’s web revenue within the yr-in the past quarter was Rs 411.27 crore. PNB’s curiosity earnings rose 31 per cent to Rs 26,355 crore in the course of the second quarter of the present fiscal, towards Rs 20,154 crore a yr in the past.
The financial institution’s provisioning declined to Rs 3,444 crore in the course of the quarter underneath evaluate, from Rs 4,906 crore within the yr-in the past interval. Gross NPAs as share of whole loans declined to 6.96 per cent on the finish of September, from 10.48 per cent final yr.
Shares of PNB have been buying and selling at Rs 69.40 on Thursday, down 0.07 per cent over the earlier shut on the BSE.
(With Inputs from PTI)
