Punjab National Bank (PNB), the country’s second largest public sector bank, on Thursday reported a 96.42 per cent increase in consolidated net profit for the quarter ended December 31, 2021, at ₹1,151 crore as compared to ₹586 crore in the same quarter in the previous fiscal.
The public sector bank had recorded a consolidated net profit of ₹1,200 crore in Q2 FY22.
For the nine months ended December 31, 2021, PNB has reported a consolidated net profit of ₹3,431 crore (up from ₹1,606 crore a year ago). The bottomline performance for the first nine months of this fiscal is higher than the consolidated net profit of ₹2,152 crore recorded for all of FY21, Punjab National Bank’s filings with the stock exchanges showed.
Meanwhile, PNB’s consolidated total income for the quarter under review stood at ₹22,275 crore (₹23,383 crorea year ago). In the September 2021 quarter, PNB had recorded total income of ₹21,597 crore.
Both gross NPA and net NPA saw an increase in absolute terms. As a percentage of advances, gross NPA stood at 12.88 per cent (12.99 per cent). Net NPA grew to 4.90 per cent (4.03 per cent).