New Delhi, May 7 (SocialNews.XYZ) Government-owned Punjab National Bank (PNB) on Wednesday reported a net profit of Rs 4,567 crore for January-March quarter of financial year 2024-25, which represents a 51.7 per cent jump over the corresponding figure of Rs 3,010 crore for the same period of the previous financial year.
The PNB has announced a dividend of Rs 2.90 per equity share for the financial year 2024-2025.
The bank's net interest income, the difference between interest paid for deposits and interest earned on loans, for the fourth quarter rose 4 per cent to Rs 10,757 crore.
The PNB board has recommended a dividend of Rs 2.90 per equity share of face value of Rs 2 each for FY25. The dividend is subject to approval of the shareholders at the ensuing annual general meeting of the bank.
The public sector lender’s asset quality improved during the January-March quarter, with gross non-performing assets (NPAs) coming down to 3.95 per cent from 4.09 per cent in the previous quarter. The net non-performing assets declined marginally to 0.41 per cent during the fourth quarter from 0.4 per cent in the third quarter.
The PNB board also approved a proposal to raise fresh funding to the tune of Rs 8,000 crore through the issuance of Basel III compliant bonds. This includes additional Tier-I bonds up to Rs 4,000 crore and Tier-II bonds up to Rs 4,000 crore, to be raised in one or more tranches during FY 2025-26.
PNB's global business grew by 14.03 per cent to Rs 26,83,260 crore in Q4 FY25 from Rs 23,53,038 crore, year-on-year. Global deposits registered a growth of 14.38 per cent year-on-year to Rs 15,66,623 crore as on March 2025 from Rs 13,69,713 crore as on March 2024. Global advances increased by 13.56 per cent to Rs 11,16,637 crore from Rs 9,83,325 crore.
Source: IANS
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