PNB' YouTube followers up by 64% Y/y
FinTech BizNews Service
Mumbai, 26 October, 2023: Punjab National Bank’s net profit has Increased to Rs17.56 billion during Q2 FY’24, with YoY growth of 327.14% under the leadership of Atul Kumar Goes, MD & CEO. Operating profit of the bank grew by 11.67% at Rs 6,216 Crore during Q2 FY’24 on YoY basis.
Net Interest Income of the bank increased by 20% YoY to Rs 9,923 Crore in Q2 FY24. Global NIM improved by 11 bps on YoY basis to 3.11% in Q2 FY24 from 3.00 % in Q2 FY’23.
GNPA ratio of the bank improved by 352 bps on YoY basis to 6.96% as on September’23 from 10.48% as on September’22. NNPA ratio improved by 233 bps on YoY basis to 1.47% as on September’23. Provision Coverage Ratio (including TWO) improved by 795 bps on YoY basis to 91.91% as on September’23 from 83.96% as on September’22. Credit Cost of the bank declined by 45 bps on YoY basis to 1.31% in Q2 FY’24.
Global Business of the bank increased by 11.26% on YoY basis to Rs 22,51,631 Crore as on September’23 as against Rs20,23,713 Crore as on September’22. Global deposits grew by 9.75% on YoY basis to Rs 13,09,910 Crore as on September’23. Global Advances grew by 13.43% on YoY basis to Rs 9,41,721 Crore as on September’23. RAM share improved by 218 bps on YoY basis to 55.63% as on September’23.
Global NIM of the bank improved by 18 bps on YoY basis to 3.09% in HY1FY24 from 2.91% in HY1FY’23. Global Yield on Advances was at 8.15% in Q2FY’24 and 8.10% in HY1 FY’24 as compared to 6.91% in Q2FY’23 and 6.70% in HY1FY’23.
Global Cost of Deposits increased YoY by 96 bps to 4.86% in Q2FY’24 and 94 bps to 4.79% for HY1FY’24.
Yield on investment improved YoY by 36 bps to 6.87% in Q2FY’24 and 35 bps to 6.79% for HY1FY’24. Return on Assets (RoA) improved YoY by 34 bps to 0.46% in Q2FY’24 and 29 bps to 0.40% for HY1FY’24.
Return on Equity (RoE) improved YoY by 759 bps to 10.15% in Q2FY’24 and 652 bps to 8.82% for HY1FY’24. Business per employee of the bank improved y/y to Rs 22.65 Crore in September’23. Business per branch improved to Rs 217.65 Crore in September’23 from Rs 197.19 Crore in September’22. Net profit per employee improved to Rs7.20 lakh in Q2FY’24 from Rs1.65 lakh in Q2FY’23. Net profit per branch improved to Rs 69.21 lakh in Q2FY’24 from Rs 16.24 lakh in Q2FY’23.
Profitability
Net Profit of the Bank for HY1FY’24 was at Rs 3,012 Crore recording growth of 318.3% on YoY basis. Operating Profit of the Bank for HY1FY’24 was at Rs 12,184 Crore for HY1FY’24 recording growth of 11.3% on YoY basis. Net Interest Income of the Bank for HY1FY’24 was at Rs 19,427 Crore for HY1FY’24 recording growth of 22.8% on YoY basis.
Total Income of the Bank for Q2 FY’24 was at Rs 29,383 Crore and Rs 57,962 Crore for HY1FY’24 recording growth of 27.7% and 30.9%, respectively on YoY basis. Total Interest Income of the Bank for Q2 FY’24 was at Rs 26,355 Crore and Rs 51,500 Crore for HY1FY’24 recording growth of 30.8% and 32.4%, respectively on YoY basis.
Non-interest income for Q2 FY’24 was at Rs 3,028 Crore and Rs 6,462 Crore for HY1FY’24 recording growth of 6.4% and 20.0%, respectively on YoY basis.
Total Interest Expenses of the Bank for Q2 FY’24 was at Rs 16,432 Crore and Rs 32,074 Crore for HY1FY’24 increased by 38.3 % and 38.9%, respectively on YoY basis. Operating Expenses for Q2 FY’24 was at Rs 6,735 Crore and Rs 13,705 Crore for HY1FY’24 increased by 21.3 % and 33.7%, respectively on YoY basis.
Gross Non-Performing Assets (GNPA) were at Rs 65,563 Crore as on September’23 as against Rs87,035 Crore as on September’22 declined by Rs 21,472 crore on YoY basis. Net Non-Performing Assets (NNPA) were at Rs 13,114 Crore as on September’23 as against Rs 29,348 Crore as on September’22 declined by Rs16,234 crore on YoY basis. Provision Coverage Ratio (PCR) Excluding TWO improved by 1372 bps YoY to 80.0% in September’23 from 66.28% in September’22. Credit Cost improved to 1.67% in H1FY’24 from 2.13% in HY1FY’23. Slippage ratio improved YoY by 248 bps to 0.86 % in Q2 FY24 from 3.34 % in Q2FY’23 and improved YoY by 239 bps to 0.85% in H1FY’24 from 3.24% in HY1FY’23.
PSL Achievement, Financial Inclusion
CRAR improved from 14.74% as on September’22 to 15.09% as on September’23. Tier-I is at 12.02 % (CET-1 was at 10.23%, AT1 was at 1.79%) and Tier-II is at 3.07% as at September’23. PMJDY account increased to 479 lakhs as on September’23 from 441 Lakh in September’22. Enrollment under PMJJBY, PMSBY & APY increased in September 2023.
Priority Sector Advances exceeded the National Goal of 40% and was at 41.6 % of ANBC. Agriculture advances exceeded the National Goal of 18% and was at 18.70% of ANBC.
Credit to Small & Marginal Farmers exceeded the National Goal of 10% and was at 10.84% of ANBC. Credit to Weaker Sections exceeded the National Goal of 12% and was at 14.44 % of ANBC. Credit to Micro Enterprises exceeded the National Goal of 7.50% and was at 7.67 % of ANBC.
Number of Digital Transactions increased to 287 Lakh during H1FY’24 from 187 lakh in H1FY’23. Internet Banking Services (IBS) users increased to 407 Lakhs as on September’23 recorded 10% YoY growth as against 370 Lakh as on September’22. Mobile Banking Users increased to 442 Lakhs as on September’23 recorded 18% YoY growth as against 373 Lakh as on September’22.
Average daily downloads increased from 24K in Q2 FY’23 to 36K in Q2FY’24. Average daily active users increased from 4.5 Lakh in Q2 FY’23 to 7.7 Lakh in Q2 FY’24. Average Daily login improved from 9 Lakh in Q2 FY’23 to 15 Lakh in Q2 FY’24.
Average Daily Transactions improved from 76K in Q2 FY’23 to 143K in Q2 FY’24. Total number of Users activated increased from 69 Lakh as on September’22 to 153 Lakh as on
September’23.
As on 30th September’23, the Bank has 10092 number of Domestic branches. Rural: 3905 (39%), Semi-Urban: 2461 (24%), Urban: 1998 (20%) & Metro: 1728 (17%), 2 International Branches, 12645 number of ATMs and 20447 BCs.
Social Media Presence of the Bank: (No. of Followers)
?Facebook: 20,48,067 with YoY growth of 24.57% https://www.facebook.com/pnbindia/
? X (Twitter): 4,36,060 with YoY growth of 32.15% https://twitter.com/pnbindia
?LinkedIn: 1,22,519 with YoY growth of 21.01% https://in.linkedin.com/company/pnbindia
?Instagram: 1,74,708 with YoY growth of 70.06% https://www.instagram.com/pnbindia
?Youtube: 1,56,000 with YoY growth of 64.21% https://www.youtube.com/pnbindia
?Koo: 46,585 with YoY growth of 59.98% https://www.kooapp.com/pnbindia
PNB felicitated with ‘Green Ribbon Champions’ award under the category- ‘CSR Green Initiative of the Year’ for planting more than 1 lakh trees under the PNB Palaash. PNB honoured with the 1st Prize in Rajbhasha Kirti for the year 2022-23 at the Hindi Diwas
Value addition across business verticals
oBusiness- Transaction based leads for retail products.
oProfitability- Customer Churn Prediction & Remedial Action –Next Best Offer/ Next Best Action.
oAnalytics based digital collection management system (Mechanism to priorities collection). Clarity of roles & expectations from each employee is with well defined, measurable KRAs.
Comprehensive Leadership Development Program (LDP) to prepare future Bank Leaders on
behavioral aspects for 900+ Officers. Reorientation of employees in terms of Knowledge, Skills & Attitude. Clear tracking, measurement & visibility of performance metrics to identify improvement areas. Performance Dashboard & Performance Monitoring System (PMS) profiler tools.
