PNB Financial Results for the Quarter Ended 30th June 2023
Key Highlights
* Net profit for Q1 FY24 was at ?1255 Crore and grew by 307.02 % on YoY basis.
* Operating Profit was at ? 5,968 Crore during Q1 FY’24 grew by 10.95% on YoY basis.
* Net Interest Income increased by 26.00% YoY to ? 9,504 Crore in Q1 FY24.
* Global NIM improved by 29 bps on YoY basis to 3.08% in Q1 FY24 from 2.79% in Q1 FY’23.
* GNPA ratio improved by 354 bps on YoY basis to 7.73% as on June’23 from 11.27% as on June’22.
* NNPA ratio improved by 230 bps on YoY basis to 1.98% as on June’23 from 4.28% as on June’22.
* Provision Coverage Ratio (including TWO) improved by 679 bps on YoY basis to 89.83% as on June’23 from 83.04% as on June’22.
* Provision Coverage Ratio (PCR) Excluding TWO improved by 1105 bps YoY to 75.84% in June’23 from 64.79% in June’22.
* Slippage ratio improved to 1.19 % in Q1 FY24 from 3.75 % in Q1FY’23.
* Credit Cost declined by 47 bps on YoY basis to 1.99% in Q1 FY’24.
* Global Business increased by 14.3%on YoY basis to ? 22,14,741 Crore as on June’23 as against ?19,36,924 Crore as on June’22.
* Global deposits grew by 14.18% on YoY basis to ? 12,97,905 Crore as on June’23.
* Global Advances grew by 14.58% on YoY basis to ? 9,16,836 Crore as on June’23.
* RAM share improved by 217 bps on YoY basis to 54.74% as on June’23
Business Performance in Key Parameters
* Savings deposits increased to ? 4,64,004 Crore as on June’23 from ?4,47,258 Crore as on June’22.
* Current deposits were at ? 66,838 Crore as on June’23.
* CASA Share (Domestic) stands at 41.9% as on June’23.
* Core Retail Advances grew YoY by 16.2% to ? 1,41,040 Crore as on June’23. Within Core Retail Credit:
* Housing Loan increased by 12.5% on YoY basis to ?83,893 Crore.
* Vehicle loan increased by 27.1% on YoY basis to ?17,093 Crore.
* Personal Loan increased by 46.4% on YoY basis to ?18,940 Crore.
* Total Retail increased by 40.14% YoY basis from ? 1,46,321 Crore in June’22 to ? 2,05,058 Crore in June’23.
* Agriculture Advances grew by 9.26% on YoY basis to ?1,45,572 Crore in June’23.
* MSME Advances grew by 5.96% on YoY basis to ?1,32,398 Crore in June’23
Profitability
* Net interest income was at ? 9504 Crore for Q1 FY’24 registering growth of 26.0% on YoY basis.
* Total Income of the Bank for Q1 FY’24 was at ? 28,579 Crore recording growth of 34.2% on YoY basis.
* Total Interest Income of the Bank for Q1 FY’24 was at ? 25,145 Crore recording growth of 34.1% on YoY basis.
* Non-interest income for Q1 FY’24 was at ? 3,434 Crore and it grew by 35.3 % on YoY basis.
* Total Interest Expenses of the Bank for Q1 FY’24 was at ? 15,641 Crore recording growth of 39.5 % on YoY basis.
* Other Operating Expenses for Q1 FY’24 was at ? 2,483 Crore and it grew by 15.3% on YoY basis.
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