Punjab National Bank Q2 Results FY2023, Net Profit at Rs. 411 crores

On 1st November 2022, Punjab National Bank announced its quarterly results for the second quarter of FY2023.

Q2FY23 Performance updates:

- Net interest income increased by 30.2% YoY to Rs.8271 Crore in Q2 FY23.  
- Operating Profit was at Rs.5567 Crore during Q2FY23 grew by 38.5% on YoY basis. 
- Net profit for Q2 FY23 was at Rs.411 Crore and grew 33.4% on QoQ basis. 
- Total Income of the Bank for Q2FY23 was at Rs.23001 Crore and Rs.44295 Crore for HY1-23. It grew by 8.2% and 0.5% respectively on YoY basis. 
- Total Interest Income of the Bank for Q2FY23 was at Rs.20154 Crore and Rs.38911 Crore for HY1-23 It grew by 12.1% and 5.4% respectively on YoY basis. 
- Fee-based income for Q2FY23 was at Rs.1307 Crore and Rs.3058 Crore for HY1-23. It grew by 12.5% and 14.7% respectively on YoY basis.  
- Total Expenditure of the Bank for Q2FY23 was at Rs.17434 Crore and for HY1-23 was at Rs.33349 Crore.

Business Highlights:

- Global Gross Business increased by 9.33% on YoY basis to Rs.2023712 Crore 
-  Savings deposits grew by 5.84% to Rs.451707 Crore. 
- Current deposits were at Rs.72741 Crore 
- Housing Loan increased by 7.8% on YoY basis to Rs.76877 Crore. 
- Vehicle loan increased by 35.3% on YoY basis to Rs.14038 Crore. 
- Personal Loan increased by 36.4% on YoY basis to Rs.14294 Crore. 
- Agriculture Advances increased YoY by 4.81% to Rs.140303 Crore. 
- MSME Advances increased YoY by 4.57% to Rs.130218 Crore. 
- Priority Sector Advances exceeded the National Goal of 40% and was at 43.54% of ANBC.  
- Agriculture advances exceeded the National Goal of 18% and was at 19.03% of ANBC. 
- Credit to Small and Marginal farmers exceeded the National Goal achievement of 9.5% and is at 10.16% of ANBC. 
- Credit to Weaker Sections exceeded the National Goal achievement of 11.5% and is at 14.08% of ANBC. 
- Credit to Micro Enterprises exceeded the National Goal achievement of 7.5% and is at 8.35% of ANBC.
- Gross Non-Performing Assets (GNPA) were at Rs.87035 Crore declined by 13.21% on YoY basis.  
- Net Non-Performing Assets (NNPA) were at Rs.29348 Crore, declined by 20.53% YoY basis.  
- CRAR was 14.74% for September’22. Tier-I is at 12.20% (CET-1 was at 10.88%, AT1 was at 1.32%) and Tier-II is at 2.54% as at September’22.