Punjab National Bank Q3 Results FY2023, PAT at Rs. 629 crores

On 30th January 2023, Punjab National Bank announced its results for the third quarter of FY2023.

Key Highlights:

- Net interest income was at Rs. 9179 Crore for Q3FY23 and Rs. 24993 Crore for 9MFY23. It grew by 17.6% and 16.8% respectively.  
- Total Income of the Bank for Q3FY23 was at Rs. 25722 Crore and Rs. 70018 Crore for 9MFY23. It grew by 16.8% and 5.9% respectively on a YoY basis. 
- The total Interest Income of the Bank for Q3FY23 was Rs. 22384 Crore and Rs. 61295 Crore for 9MFY23. It grew by 15.8% and 9.0% respectively on a YoY basis. 
- Non-interest income for Q3FY23 was at Rs. 3338 Crore, which grew by 23.6% on a YoY basis.
- Fee-based income was at Rs. 1331 Crore for Q3FY23 and Rs. 4389 Crore for 9MFY23. It grew by 8.8% and 12.8% respectively on a YoY basis.
- Operating Profit was at Rs. 5716 Crore during Q3 FY23 grew by 12.61% on a YoY basis.
- Net profit for Q3 FY23 was at Rs. 629 Crore and grew by 53.04% on a QoQ basis. 

Business Highlights:

- Global Gross Business increased by 9.80% on a YoY basis to Rs. 2067116 Crore at the end of December’22 as against Rs. 1882623 Crore in December’21. 
- Savings deposits grew by 4.04% to Rs. 451945 Crore in December’22.  Current deposits were at Rs. 64589 Crore in December’22.  CASA Share (Domestic) stands at 43.72% of Deposits as on December’22.
- Within Core Retail Credit, Housing Loans increased by 9.16% on a YoY basis to Rs. 78684 Crore. Vehicle loans increased by 39.51% on a YoY basis to Rs. 15404 Crore. Personal Loan increased by 40.40% on a YoY basis to Rs. 15805 Crore.
- Agriculture Advances were at Rs. 138201 Crore as on December’22.  MSME Advances was at Rs. 124728 Crore as on December’22. 
-  Global Cost of Deposits stood at 4.15% in Q3FY23 as compared to 3.90% in Q2FY23.  Global Yield on Advances at 7.23% in Q3 FY23.  Business per employee improved to Rs 2055 lakhs in December’22.  
- Business per branch improved to Rs 20074 lakh in December’22 from 18024 lakhs in December’21.  
-  Gross Non-Performing Assets (GNPA) were at Rs. 83584 Crore, declined by 14.06% on a YoY basis.  Net Non-Performing Assets (NNPA) were at Rs. 26363 Crore, declining by 22.18% YoY basis.  Provision Coverage Ratio Including TWO improved by 332 bps YoY to 85.17% in December’22.
- CRAR was 15.15% for December’22. Tier-I is at 12.21% (CET-1 was at 10.84%, AT1 was at 1.37%) and Tier-II is at 2.94% as of December’22.
-  UPI transactions in Q3FY23 increased YoY by 68% to Rs. 94.92 crores. 
- As on 31st December’22, the Bank has 10049 Domestic branches, 12957 ATMs, and 22607 BCs.