Punjab National Bank Q1 Results FY2023, PAT at Rs. 308.44 crores

On 28th July 2022, Punjab National Bank announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- Total Income of the Bank for Q1FY’23 was at Rs. 21294 Crore.  

- Operating Income of the Bank for Q1FY’23 was at Rs. 10080 Crore. 

- Total Interest Income of the Bank for Q1FY’23 was at Rs. 18757 Crore.

- Net Interest income grew by 4.27% in Q1FY’23 to Rs. 7543 Crore from Rs. 7234 Crore. 

- Total Expenditure of the Bank for Q1FY’23 declined by 3.05% to Rs. 15915 Crore. 

- Total interest Paid registered decline of 4.10% on YoY basis to Rs. 11214 Crore in Q1 FY’23 from Rs. 11694 Crore in Q1 FY’22

- Gross Non-Performing Assets (GNPA) were at Rs. 90167 Crore as on June’22 as against Rs. 104076 Crore as on Q1FY22 declined by 13.36% on YoY basis and 2.46% on QoQ basis. 

- Net Non-Performing Assets (NNPA) were at Rs.31744 Crore as on June’22 as against Rs. 38581 Crore in as on Q1FY22 declined by 17.72% YoY and 9.06% on QoQ basis.

- Provision Coverage Ratio excluding TWO improved by 186 bps to 64.79% in June’22.  Slippage ratio declined by 192 bps to 3.75% in June’22

- The bank reported PAT at Rs. 308.44 crores with a decline of 69.86% YoY

Business Highlights:

- Global Gross Business increased by 6.21% on YoY basis to Rs. 1936923 Crore as at the end of June’22 as against Rs. 1823685 Crore in Q1FY22

- Global Gross Advances grew by 10.21% on YoY basis to Rs. 800177 Crore as at the end of June’22 as against Rs.726036 Crore in Q1FY22.

- Global Deposits grew by 3.56% on YoY basis to Rs. 1136747 Crore as at the end of June’22 as against Rs.1097649 Crore in Q1FY22. 

- In Retail Segment, the Core Retail Credit increased by 9.10% on YoY basis to Rs. 121349 Crore. The Housing Loan increased by 5.25% on YoY basis to Rs. 74565 Crore. The Vehicle loan increased by 34.25% on YoY basis to Rs. 13446 Crore. The Personal Loan increased by 25.52% on YoY basis to Rs. 12938 Crore.

- MSME Advances increased by 3.15% to Rs. 124947 Crore.

- Agriculture Advances increased by 3.78% to Rs. 133237 Crore. 

- Internet Banking Services (IBS) users increased to 347 (32.44% YoY) Lakhs as in Q1FY23  

- Mobile Banking Services (MBS) users increased 38.24% YoY to 347 Lakhs as in Q1FY23 from 251 Lakhs in Q1FY22. 

- UPI transactions increased by 106% to 74.97 Crore as in Q1FY23

- As on 30th June’22, the Bank has 10058 number of Domestic branches. Rural: 3853 SemiUrban: 2450, Urban: 2015 & Metro: 1740, International Branches 2, 13219 number of ATMs