PNB Q2 net profit up
2.19% at Rs 561 crore

The global business of the bank stands at Rs 10.46 lakh crore in September 2017 , registering y-o-y growth of 8 %
Thesynergyonline Banking Bureau

NEW DELHI, NOVEMBER 03 :
 The  net profit of Punjab National Bank (PNB) increased to Rs 561 crore in September 2017 from Rs 549 crore in September 2016, up by 2.19 per cent.

 

The global business of Punjab National Bank (PNB) stood at Rs 10.46 lakh crore in September 2017 , registering year-on-year growth of 8 per cent. Domestic business of the bank increased by 10.9 per cent ony-o-y basis. CASA deposits increased to Rs 256855 crore in September 2017 from Rs 216224 crore in September 2016 with the share of CASA deposits rising to 44.38 per cent in September 2017 from 42.10 per cent in September 2016. CASA deposits grew by 24.2 per cent on an average basis.

Advances

Domestic advances increased by 8.3 per cent on y-o-y basis in Sepember 2017. Retail loans grew by 15.9 per cent supported by Housing loan growing at 17.4 per cent and car loan growing at 17.8 per cent

 

The operating profit

The operating profit The operating profit for the September 2017 quarter of the bank increased to Rs 3279 crore in September 2017 from Rs 2732 crore in September 2016, recording a y-oy increase of 20 per cent.

The cost of deposit

The bank witnessed decline in cost of deposit to 5.01 per cent in Q2 FY'18 from 5.36 per cent in Q2 FY'17. In terms of profitability ratios, The return on equity (ROE) for H1FY'18 improved to 4.51 per cent from 4.45 per cent in H1FY'17. The cost to Income ratio has improved from 51.96 per cent in Q2 FY'17 to 44.62 per cent in Q2 FY'18.

The non_perfoming asset

The  gross non-performing asset( NPA) of thebBank was sequentially down from June'17 level at Rs 57630 crore in September 2017.
Consequently gross NPA ratio improved to 13.31 per cent in September 2017 from 13.66 per cent in June 2017.

The gross non-performing asset( NPA) of thebBank was sequentially down from June'17 level at Rs 57630 crore in September 2017.

The provision coverage ratio (PCR) of the bank improved to 59.23 per cent as on September 30'17 from 53.32 per cent in September 30'16.

The bank is is moving ahead in growth and profitability, riding on digital wave, accelerated by MISSION PARIVARTAN that was launched in Q1FY'18.