INSUBCONTINENT EXCLUSIVE:
Photo Credit: Ruby Sharma2 min read Last Updated : Jul 27 2024 | 5:08 PM IST
State-owned Punjab National Bank (PNB) on Saturday reported
a net profit of Rs 3,252 for the first quarter of the current financial year (Q1FY25), a staggering 159 per cent jump compared to Rs 1,255
Q1FY24, showing a 10.23 per cent growth year-on-year (Y-o-Y).
The gross non-performing asset (GNPA) ratio improved by 275 basis points
(bps) Y-o-Y to 4.98 per cent as of June 24, while the net non-performing asset ratio of the lender improved by 138 bps Y-o-Y to 0.60 per
cent as of June 2024.
Atul Kumar Goel, Managing Director and Chief Executive officer of PNB in the post-results press conference said
that the GNPA for the bank would be 4 per cent in FY25.
"Current account savings accounts (Casa) is a challenge for all banks
to Rs 5,49,079 crore, recording a Y-o-Y growth of 3.4 per cent
per cent Y-o-Y to Rs 2,34,564 crore till June 24
14.7 per cent Y-o-Y to Rs 1,01,796 crore and vehicle loan posted a growth of 26.9 per cent Y-o-Y to reach Rs 21,726 crore.First Published:
