Bank's GNPA ratio improved by 301 bps on Y-o-Y basis to 5.73% as on March’24 from 8.74% as on March’23
FinTech BizNews Service
Mumbai, May 9, 2024: Punjab National Bank today announced financial results for the quarter and year ended 31st March 2024.
The Board of Directors have recommended a dividend of Rs1.50 per equity share (75%) for the
year ended March 31, 2024 subject to requisite approvals.
Net Profit increased Y-o-Y by 159.8% and Q-o-Q by 35.4% to Rs3,010 Cr in Q4 FY’24 from Rs1,159
Crore in Q4 FY’23 and Rs2,223 Cr in Q3 FY’24. During FY’24, Net Profit rose to Rs8,245 Crore
recording a robust growth of 228.8% against Rs2,507 Crore posted during FY’23.
Return on Assets (RoA) improved to 0.77% in Q4 FY’24 from 0.58% in Q3 FY’24 and 0.32% in Q4
FY’23. RoA improved Y-o-Y by 36 bps to 0.54% in FY’24 against 0.18% recorded in FY’23.
Return on Equity (RoE) improved to 16.48% in Q4 FY’24 from 12.45% in Q3 FY’24 and 7.11% in
Q4 FY’23. RoE improved by 772 bps to 11.66% in FY’24 from 3.94% in FY’23.
Net Interest Income (NII) increased to Rs10,363 Cr in Q4 FY’24 from Rs10,293 Cr in Q3 FY’24 and
Rs9,499 Cr in Q4 FY’23 showing an improvement of 9.1% on Y-o-Y basis. During FY’24, NII rose
by 16.2% to Rs40,083 Crore from Rs34,492 Crore in FY’23.
Global Net Interest Margin increased by 3 bps from 3.06% in FY’23 to 3.09% in FY’24.
Operating Profit increased by 9.4% on Y-o-Y basis to Rs6,416 Cr in Q4 FY’24 from Rs6,331 Cr in Q3
FY’24 and Rs5,866 Cr in Q4 FY’23. Operating Profit rose by 10.7% to Rs24,931 Crore in FY’24 from
Rs22529 Crore in FY’23.
Credit Cost improved by 91 bps from 1.72% in Q4 FY’23 to 0.81% in Q4 FY’24 and by 63 bps
from 2.03% in FY’23 to 1.40% in FY’24.
GNPA ratio improved by 301 bps on Y-o-Y basis to 5.73% as on March’24 from 8.74% as on
March’23.
NNPA ratio improved by 199 bps from 2.72% as on March’23 to 0.73% as on March’24.
Provision Coverage Ratio (including TWO) improved by 849 bps on Y-o-Y basis to 95.39% as on
March’24.
Provision Coverage Ratio (Excluding TWO) improved by 171 bps to 87.9% from 70.8% in
March’23.
Slippage ratio improved Y-o-Y by 159 bps to 0.72% in FY’24 from 2.31% in FY’23.
Global Business grew by 8.6% on Y-o-Y basis to Rs23,53,038 Crore as on March’24 from
Rs21,65,844 Crore as on March’23.
Global Deposits registered a growth of 6.9% to Rs13,69,713 Crore as on March’24 from Rs12,81,163
Crore as on March’23.
Global Advances increased by 11.2% on Y-o-Y basis to Rs9,83,325 Crore as on March’24 from
Rs8,84,681 Crore as on March’23.
CD Ratio stands at 71.8% as on March’24 as against 69.1% in March’23 and 73.1% in Dec’23.
Deposits
Savings Deposits increased to Rs4,80,298 Crore registering a Y-o-Y growth of 3.5%.
Current Deposits grew by Rs3,565 Crore as on March’24 to Rs72,201 Crore on Quarter-
on-Quarter basis.
CASA Deposits increased to Rs5,52,499 Crore recording a Y-o-Y growth of 2.7%.
CASA Share of the bank stands at 41.44% as on March’24.
Retail Term Deposit (less than 2 Crores) witnessed a growth of 9.5% on Y-o-Y basis to
Rs5,62,705 Crore in March’24.
Advances
Total Retail credit increased by 12.6% to Rs2,22,574 Crore in March’24.
The bank grew impressively under Core Retail recording a Y-o-Y growth of 15.2%.
Within Core Retail Credit:
• Housing Loan grew by 14.5% to Rs93,694 Crore.
• Vehicle loan posted a growth of 25.6% to reach Rs20,692 Crore.
• Personal Loan increased by 14.4% to Rs20,766 Crore.
Agriculture Advances grew by 11.3% on Y-o-Y basis to Rs1,58,188 Crore
MSME Advances increased Y-o-Y by 7.0% to Rs1,39,288 Crore in March’24.
Asset Quality
Gross Non-Performing Assets (GNPA) declined by Rs20,985 Crore to Rs56,343 Crore as
on March’24 from Rs77,328 Crore as on March’23.
Net Non-Performing Assets (NNPA) declined by Rs15,786 Crore from March’23 to Rs6,799
Crore as on March’24.
Net Slippages declined by Rs8646 Crore from Rs14198 crore in FY’23 to Rs5552 Crore in
FY’24.
Profitability
Total Income of the Bank was booked at Rs32,361 Crore for Q4 FY’24 and Rs1,20,285
Crore for FY’24, recording a growth of 18.7% and 23.6% respectively on Y-o-Y basis.
Total Interest Income of the Bank was Rs28,113 Crore for Q4 FY’24 and Rs1,06,902 Crore
for FY’24, registering a Y-o-Y growth of 17.9% and 25.6% respectively.
Fee based income recorded a Y-o-Y growth of 8.4% from Rs5,612 Crore in FY’23 to
Rs6,084 Crore in FY’24.
Efficiency/Productivity Ratio
Domestic Net Interest Margin stands at 3.25% in Q4 FY’24.
Global Yield on Advances improved Y-o-Y by 50 bps to 8.44% in Q4 FY’24 and by 112
bps to 8.28% in FY’24.
Business per employee improved to Rs23.84 Crore in March’24 from Rs21.64 Crore in
March’23 and Rs23.08 Crore in Dec’23.
Business per branch improved to Rs225.25 Crore in March’24 from Rs209.53 Crore in
March’23 and Rs220.51 Crore in Dec’23.
Net profit per employee improved to Rs8.61 lakhs in FY’24 from Rs2.57 lakhs in FY’23.
Net profit per branch improved to Rs81.33 lakhs in FY’24 from Rs24.88 lakhs in FY’23.
Capital Adequacy
CRAR increased to 15.97% as on March’24 from 15.50% as on March’23 registering an
improvement of 47 bps.
Tier-I was at 13.17% (CET-1 improved to 11.04% from 9.86% as at Dec’23 and AT1
improved to 2.13% from 1.87% as at Dec’23) and Tier-II at 2.80% as on March’24.
Priority Sector Achievement
Priority Sector Advances exceeded the National Goal of 40% and stands at 40.57% of
ANBC.
Agriculture advances exceeded the National Goal of 18% and stands at 18.27% of
ANBC.
Credit to Small & Marginal Farmers exceeded the National Goal of 10% and stands at
10.09% of ANBC.
Credit to Weaker Sections surpassed the National Goal of 12% and stands at 13.57% of
ANBC
Credit to Micro Enterprises surpassed the National Goal of 7.50% and stands at 8.16%
of ANBC.
Financial Inclusion
PMJDY account increased to 5 Crore 5 Lakhs as on March’24 from 4 Crore 59 Lakhs in
March’23.
Digital Progress and Initiatives
Number of Digital Transactions increased to 659 Crore during FY’24 from 408 Crore
during FY’23 registering a growth of 62% on Y-o-Y basis.
Internet Banking Services (IBS) users increased to 423 Lakhs as on March’24 recording
a growth of 8% Y-o-Y basis from 392 Lakhs as on March’23.
Total Digital Loan Disbursed improved by Rs4,464 Crore to Rs8,588 Crore as on March’24
from Rs4,124 Crore as on March’23.
Facility for Digital Education loan and Digital Vehicle Loan through PNB One has
commenced in the bank.
Distribution Network
As on 31 st March 2024, the Bank has 10,138 branches including 2 International
Branches.
The distribution of branches is Rural: 3,927 branches (39%), Semi-Urban: 2,484
branches (24%), Urban: 2,001 branches (20%) and Metro: 1,724 branches (17%).
The bank also has 12,131 ATMs and 33,614 BCs as part of its distribution network.
Social Media Presence of the Bank: (No. of Followers)
Facebook: 22,15,854 with Y-o-Y growth of 18.58% https://www.facebook.com/pnbindia/
X (Twitter): 4,45,310 with Y-o-Y growth of 13.08% https://twitter.com/pnbindia
Instagram: 4,37,305 with Y-o-Y growth of 240.65% https://www.instagram.com/pnbindia
LinkedIn:1,36,626 with YoY growth of 19.14% https://in.linkedin.com/company/pnbindia
YouTube: 1,85,000 with Y-o-Y growth of 51.64% https://www.youtube.com/pnbindia
Koo: 48,200 with Y-o-Y growth of 14.74% https://www.kooapp.com/pnbindia
