Punjab National Bank's (PNB) Standalone Net Profit Soared 78% In Q2 FY22

Punjab National Bank (PNB), a top public sector bank has announced their Q2 FY22 results that reported a standalone net profit of Rs. 1,105 crore for the Q2 FY22, which has increased 78% from Rs. 621 crore in the same period in FY 21. Total Income of the Bank stood at Rs. 21,262 Crore in Q2 FY'22, and the operating Income stood at Rs. 9,635 Crore in Q2 FY'22.

Total Interest Income stood at Rs. 17,980 Crore in Q2 FY'22. On the other hand, Global Gross Business increased by 3.6% on a YoY basis to Rs. 18,51,097 Crore as at the end of September'21. Additionally, on a sequential basis, the profit after tax (PAT) increased 8% over Rs. 1,023 crore in the previous June quarter.

However, PNB's net interest income (NII) has dropped by 25% Rs. 6,353 crore, which was Rs. 8,455 crores in the same period in FY 21.

PNB's Domestic CASA Share has improved by 132 bps on a Y-o-Y basis to 45.4% in Q2 FY22. CASA Deposits grew by 8.6% on a Y-o-Y basis to Rs. 4,98,757 Crore in September'21.

Expense

Additionally, the bank's total Expenditure declined by 2.9% to Rs. 17,241 Crore during Q2 FY 22 from Rs. 17,764 Crore during Q2 FY 21. Operating Expenses stood at Rs. 5,614 Crore in Q2 FY 22 while Total interest Paid registered decline of 7.4% to Rs. 11,628 Crore in Q2 FY'22.

NPA

The bank's non-performing assets (NPAs) have been reported at 13.63% in Q2 FY22, which has dropped from 14.33% in Q1 FY22. But it is marginally higher than 3.43% in the same period last year. Additionally, PNB's net NPA ratio in the period stood at 5.49%. The bank mentioned in the report, "Gross Non-Performing Assets (GNPA) stood at Rs. 1,00,291 Crore as on September'21, as against Rs. 1,04,076 Crore in June'21. Gross Non-Performing Assets (GNPA) stood at Rs. 1,00,291 Crore as on September'21. as against Rs. 1,04,076 Crore in June'21."

(Also read: ICICI Bank Registered A 30% Hike In PAT Of Rs. 5511 Crore In Q2, FY22)

At the end of the day, PNB's share price increased to Rs. 46.20 which was up by +0.35 (0.76%), on the NSE.

(Also read: Tech Mahindra's Q2 Profit Rallied 25.8%, The Company Announced A Special Dividend Of Rs. 15)