New Delhi: State-owned lender Punjab National Bank (PNB) recorded manifold growth in consolidated profits at Rs 1,159 crore in the fourth quarter. The net profits rose 477% from Rs 201 crore in a year back quarter.
With this gain in profits, the board of Punjab National Bank recommended a dividend of Rs 0.64 a piece of the face value of Rs 2 each for the fiscal year 2022-23.
Bank’s net non-performing ratio improvised to 2.72 per cent in the March quarter from 3.30 per cent in the third quarter and 4.8 per cent in the year back quarter.
Its advances hiked by 14 per cent to Rs 8.30 lakh crore by the end of March quarter in comparison to Rs 7.28 lakh crore as of March 2022.
Other Ratios
On the other hand, deposits increased by 12% to Rs 12,8 lakh crore as of March 2023, compared with Rs 11.46 lakh crore in the fourth quarter of the financial year 2022.
The lender has a capital adequacy ratio of 15.50% along with a CET-1 ratio of 11.22 for Q4.
During the year, the net profits of Punjab National Bank diminished by 27 per cent to Rs 2507 crore, which was Rs 3, 456 crore in fiscal 2022. NII for the year was at Rs 34,492 crore.
