PNB Q2 results: Profit rises on strong business growth, asset quality improves

Punjab Bank (PNB) reported a 14% year-on-year rise in net profit for the September quarter, supported by steady business growth, improved asset quality, and robust digital adoption.

The public sector lender’s net profit rose to ₹4,904 crore, up from ₹4,304 crore in the year-ago period.

Net interest income (NII) was slightly lower, at ₹10,469 crore, versus ₹10,516.7 crore a year earlier.

Operating profit for the quarter increased to ₹7,227 crore, while return on assets (RoA) improved to 1.05% from 1.02% a year ago.

PNB’s gross non-performing assets (GNPA) declined to ₹40,343.3 crore, with the gross NPA ratio at 3.45%, down from 3.78% in the previous quarter.

Net NPAs were at ₹4,025.8 crore, translating into a net NPA ratio of 0.36%. The provision coverage ratio improved to 96.91% from 96.67% a year earlier.