Punjab National Bank (PNB) Financial Results For The Quarter Ended June 30, 2024

Key Highlights

Business Performance in Key Parameters

Deposits

Savings Deposits increased to Rs 4,84,377 Crore registering a Y-o-Y growth of 4.4%.

Current Deposits stood at Rs 64,702 Crore as on June’24.

CASA Deposits increased to Rs 5,49,079 Crore recording a Y-o-Y growth of 3.4%.

CASA Share of the bank stands at 40.08% as on June’24.

Retail Term Deposit (less than 3 Crores) witnessed a growth of 9.2% on Y-o-Y basis to Rs 5,85,598 Crore in June’24.

Advances

Total Retail credit increased by 14.4% Y-o-Y to Rs 2,34,564 Crore in June’24.

The bank grew under Core Retail Advances recording a Y-o-Y growth of 15.5%. Within Core Retail Credit:

Housing Loan grew by 14.7% Y-o-Y to Rs 1,01,796 Crore.

Vehicle loan posted a growth of 26.9% Y-o-Y to reach Rs 21,726 Crore.

Agriculture Advances grew by 15.8% on Y-o-Y basis to Rs 1,68,503 Crore

MSME Advances increased Y-o-Y by 7.9% to Rs 1,42,886 Crore.

Asset Quality

Gross Non-Performing Assets (GNPA) declined by Rs 19,636 Crore to Rs 51,263 Crore as on June’24 from Rs 70,899 Crore as on June’23.

Net Non-Performing Assets (NNPA) declined by Rs 11,199 Crore to Rs 5,930 Crore as on June’24 from Rs 17,129 Crore as on June’23.

Profitability

Total Income of the Bank was booked at Rs 32,166 Crore for Q1 FY’25 from Rs 28,579 Crore for Q1 FY’24, recording a growth of 12.5% on Y-o-Y basis.

Total Interest Income of the Bank was at Rs 28,556 Crore for Q1 FY’25 from Rs 25,145 Crore for Q1 FY’24, recording a growth of 13.6% on Y-o-Y basis.

Fee based income of the Bank was at Rs 2,077 Crore for Q1 FY’25 from Rs 1,785 Crore for Q1 FY’24, recording a growth of 16.3% on Y-o-Y basis.

Efficiency/Productivity Ratio

Domestic Net Interest Margin stands at 3.21% in Q1 FY’25.

Global Yield on Advances improved Y-o-Y by 28 bps to 8.33% in Q1 FY’25.

Business per employee improved to Rs 24.80 Crore in June’24 from Rs 22.22 Crore in June’23.

Business per branch improved to Rs 233.26 Crore in June’24 from Rs 214.77 Crore in June’23.

Net profit per employee improved to Rs 13.66 Lakhs in June’24 from Rs 5.18 Lakhs in June’23.

Net profit per branch improved to Rs 128.47 Lakhs in June’24 from Rs 49.95 Lakh in June’23.

Capital Adequacy

CRAR increased to 15.79% as on June’24 from 15.54% as on June’23 registering an improvement of 25 bps.

Tier-I Capital was at 13.04% (CET-1 improved to 10.95% as on June’24 from 10.85% as on June’23 and AT1 improved to 2.09% as on June’24 from 1.44% as on June’23) and Tier-II at 2.75% as on June’24.

Priority Sector Achievement

Priority Sector Advances exceeded the National Goal of 40% and stands at 40.29% of ANBC.

Agriculture advances exceeded the National Goal of 18% and stands at 18.29% of ANBC.

Credit to Small & Marginal Farmers exceeded the National Goal of 10% and stands at 10.16% 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 7.70% of ANBC.

Financial Inclusion

PMJDY accounts increased to 5 Crore 13 Lakhs as on June’24 from 4 Crore 66 Lakhs in June’23.

Enrollments under PMJJBY, PMSBY & APY in June’24 are as under:

Digital Progress and Initiatives

Number of PNB One Activated users increased to 187 Lakh as on 30.06.2024 from 125 Lakh as on 30.06.2023 registering a growth of 50% on Y-o-Y basis.

Number of WhatsApp Banking users increased to 34.0 Lakh as on 30.06.2024 from 14.6 Lakh as on 30.06.2023 registering a growth of 133% on Y-o-Y basis.

Total Digital Loan Disbursement improved by 48.5% to ?2,240 Crore during Q1 FY’25 from Rs 1,508 Crore during Q1 FY’24.

PNB is the 1st Bank to Launch PM Vishwakarma Scheme in Digital Mode.

Distribution Network

As on 30th June 2024, the Bank has 10,150 domestic branches and 2 International Branches.