Punjab Nationwide Financial institution (PNB) on Saturday reported its highest ever quarterly standalone revenue at ₹3,252 crore in April-June FY25 helped by decline in unhealthy loans and enchancment in curiosity revenue.
The state-owned financial institution had posted a internet revenue of ₹1,255 crore in June quarter FY24.
That is the very best ever quarterly revenue recorded by the financial institution on account of enchancment in numerous parameters, together with internet curiosity revenue, restoration and CASA, Managing Director Atul Kumar Goel mentioned.
Whole revenue within the quarter rose to ₹32,166 crore from ₹28,579 crore in the identical interval a yr in the past.
The lender’s curiosity revenue additionally elevated to ₹28,556 crore from ₹25,145 crore in the identical quarter a yr in the past, as per a regulatory submitting.
Internet Curiosity Revenue (NII) elevated to ₹10,476 crore in Q1 FY25 from ₹9,504 crore earlier, exhibiting an enchancment of 10.23 per cent.
Gross Non Performing Property (NPAs) declined to 4.98 per cent of gross advances by June 2024 from 7.73 per cent in the identical quarter a yr in the past.
Equally, internet NPAs declined to 0.60 per cent from 1.98 per cent.
Consequently, provisions for unhealthy loans got here down drastically to ₹792 crore in April-June FY25 as in opposition to ₹4,374 crore within the year-ago interval.
Provision Protection Ratio improved to 95.9 per cent as of June 2024 from 89.83 per cent a yr in the past.
On a consolidated foundation, the financial institution reported a internet revenue of ₹3,976 crore within the quarter underneath evaluation as in opposition to ₹1,342 crore a yr in the past.
The consolidated monetary results of the financial institution contains 5 subsidiaries and 15 associates.
The capital adequacy ratio of the financial institution improved to fifteen.79 per cent on the finish of June 2024 in comparison with 15.54 per cent within the year-ago interval.
With enchancment in capital place, Goel mentioned, the financial institution has determined to chop the proposed share sale dimension by means of Certified Institutional Placement (QIP) to ₹5,000 crore from an earlier estimate of ₹7,500 crore.
Requested when the capital will likely be raised, he mentioned the financial institution is evaluating the opportune time for that.
Apart from, he mentioned, the board has given approval to boost ₹7,000 crore from Tier I bonds and ₹3,000 crore from Tier II bonds to fund enterprise progress.
So far as restoration is anxious, he mentioned, the financial institution is concentrating on ₹18,000 crore assortment from this together with from NCLT realisation.
“We hope restoration of ₹3,000 crore from NCLT instances,” he mentioned.
Through the quarter, he mentioned, slippages had been ₹1,755 crore in opposition to restoration of ₹3,249 crore.
Going ahead, the financial institution is aiming internet NPA of lower than 0.5 per cent, gross NPA of lower than 4 per cent and Return on Asset of 1 per cent by March.
So far as enterprise progress is anxious, he mentioned, credit score progress is estimated at 11-12 per cent whereas deposit 9-10 per cent and Internet Curiosity Margin at 2.9-3 per cent.
Low price fund Present Account and Financial savings Account (CASA) deposit would improve to 42 per cent from the present degree of 40.08 per cent of complete deposits, he added.
On enhancing its digital competitiveness, he mentioned, PNB has earmarked ₹2,500 crore to be spent on IT.
