PNB Q3 Results: Net Profit Falls 44% To Rs 629 Crore

Punjab National Bank, India’s third largest Public Sector Bank, on Monday reported a net profit of Rs 628.9 crore for the quarter ended December 2022.

Key Highlights

 Net profit for Q3 FY23 was at ₹629 Crore and grew by 53.04% on QoQ basis.
 Operating Profit was at ₹5716 Crore during Q3 FY23 grew by 12.61% on YoY basis.
 Global NIM improved by 23 bps to 3.16% in Q3 FY23 from 2.93% in Q3FY22. Global NIM for 9MFY23 improved by 32 bps on YoY basis.
 Net interest income increased by 17.63% YoY to ₹9179 Crore in Q3 FY23.
 Global Gross Advances grew by 13.43% on YoY basis to ₹856757 Crore in December’22.
 Core retail credit grew YoY by 13.54% to ₹130421Cr in December’22.
 Global Deposits grew by 7.37% on YoY basis to ₹1210359 Crore as at the end of December’22 as against ₹1127317 Crore in December’21.
 GNPA ratio improved by 312 bps to 9.76% in December’22 from 12.88% in December’21. There was an improvement of 72 bps on QoQ basis.
 NNPA ratio improved by 160 bps to 3.30% in December’22 from 4.90% in December’21. There was an improvement of 50 bps on QoQ basis.
 PCR including TWO improved by 332 bps to 85.17% in December’22 from 81.85% in December’21.
 Capital Adequacy for December’22 was at 15.15% and it improved by 24 bps on YoY basis and 41 bps on QoQ basis.

Financial Inclusion and Priority Sector

Particulars 31.12.2021 31.12.2022
Accounts opened under PMJDY (No. in Lakh) 411 450
Deposit mobilized by BCs –(Amt in ₹ Crore) 15464 19766

JANSURAKSHA SCHEME ENROLLMENT UP TO 31.12.2021 31.12.2022
Pradhan Mantri Jeevan Jyoti Bima Yojana 40.55 50.91
Pradhan Mantri Suraksha Bima Yojana 170.53 202.32
Atal Pension Yojana 17.71 25.86

Sector National Goal Achievement as % of ANBC
Priority Sector 40.0% 41.4%
Agriculture (PS) 18.0% 18.0%
Small and Marginal farmers 9.5% 9.6%
Weaker Sections 11.5% 13.3%
Micro Enterprises 7.5% 7.8%