(BSE: 532461, NSE: PNB) New Delhi, January 31, 2025 – Punjab National Bank (PNB) has released its financial results for the quarter and nine months ended December 31, 2024. The bank reported a net profit of ₹4,50,821 lakh on a standalone basis, reflecting a 103% YoY growth, and ₹4,64,860 lakh on a consolidated basis, marking a significant improvement from the previous year.
Key Financial Highlights (Standalone & Consolidated)
| Metric (₹ in Lakh) | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 | 9M FY2025 | 9M FY2024 |
|---|---|---|---|---|---|
| Total Income | 34,75,170 | 34,44,710 | 29,96,165 | 1,01,36,475 | 87,92,412 |
| Interest Earned | 31,33,983 | 29,87,501 | 27,28,781 | 89,77,127 | 78,78,819 |
| Other Income | 3,41,187 | 4,57,209 | 2,67,384 | 11,59,348 | 9,13,593 |
| Operating Profit | 6,62,055 | 6,85,331 | 6,33,071 | 20,05,502 | 18,51,513 |
| Net Profit (Standalone) | 4,50,821 | 4,30,346 | 2,22,281 | 12,06,320 | 5,23,435 |
| Net Profit (Consolidated) | 4,64,860 | 4,43,199 | 2,25,267 | 12,79,676 | 5,22,803 |
Asset Quality & Capital Adequacy
| NPA Metrics | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 |
|---|---|---|---|
| Gross NPAs (₹ in Lakh) | 45,41,398 | 47,58,225 | 60,37,138 |
| Net NPAs (₹ in Lakh) | 4,43,743 | 4,67,424 | 8,81,588 |
| Gross NPA Ratio (%) | 4.09% | 4.48% | 6.24% |
| Net NPA Ratio (%) | 0.41% | 0.46% | 0.96% |
Capital Adequacy (Basel III):
- CRAR: 15.41%
- CET-1 Ratio: 10.65%
- Tier-1 Ratio: 12.53%.
Business Performance & Growth Segments
PNB’s loan book expanded significantly, with advances reaching ₹10,69,95,679 lakh, marking a strong YoY growth. Deposits also saw a rise, standing at ₹15,29,69,889 lakh, reflecting a 15.6% YoY growth.Segment-wise Performance:
- Retail Banking: ₹9,44,776 lakh in revenue.
- Corporate Banking: ₹14,75,726 lakh in revenue.
- Treasury Operations: ₹9,60,178 lakh in revenue.
- Digital Banking: ₹9 lakh in revenue, reflecting an expanding footprint.
Strategic Announcements & Future Outlook
- New Tier-II Bond Issuance: PNB raised ₹3,000 crore in Basel III compliant Tier-II bonds to strengthen its capital base.
- Provisions & Write-offs: The bank has set aside ₹992.43 crore in additional provisions for stressed accounts.
- Subsidiary Performance: Notable contributions from PNB Housing Finance and PNB MetLife.
Market Reaction & Investor Outlook
With strong profitability, declining NPAs, and healthy credit growth, PNB remains well-positioned for continued expansion. Investors may find improving return ratios and strategic capital augmentation encouraging for long-term growth.The stock is expected to react positively to the bank's better-than-expected earnings and asset quality improvements.