PNB in Q3FY19

PNB Q3FY19 results
Bounceback with Rs 247- crore Q3FY19 profit

PNB officials from L-R : Mr L V Prabhakar , Executive Director , Mr Sunil Mehta , Manging Director and
Chief Executive Officer and Mr A K Azad ,Executive Director at a media conference in New Delhi on Tuesday
Thesynergyonline Banking Bureau
Uptrend in net profit, domestic advances , retail advances

The bank has capability and capacity to handle the situation adroitly

NEW DELHI, FEBRUARY 05 : Punjab National Bank (PNB), India's largest nationalized bank, today announced its financial results for the third quarter ended December 31, 2018. The bank recorded a net profit of Rs 247 crore and an operating profit of Rs 10,134 crore for 9 months of financial year 2018-19.
During the quarter the bank saw its domestic advances rise by 6.7 per cent to Rs 4,58,641 crore as on December 2018 while its retail advances grew by 15 per cent y-o-y to Rs 85,766 crore.

The dedicated PNB team perceived their abilities and decided to bounce back

"We focus on the reasons why we 'can't' at the expense of the far greater reasons why we 'can'." ― Craig D. Lounsbrough

The bank had started 'Mission Parivartan' at the beginning of this financial year to strengthen its processes, increase checks and balances and improve operational efficiency. These measures helped the bank in reducing its non-performing assets (NPAs) substantially.

The gross NPA ratio declined to 16.33per cent in December 2018 from 18.38 per cent in March 2018 and net NPAs fell to 8.22 per cent in December 20188 from 11.24 per cent in March '18.

Exposure and experience is all, what counts.

"The best way for marketing to "know the customer" now is to truly function as a knowledge center, iterating through efforts to connect with customers, optimizing for insight, seeking to create more meaningful relationships with customers by getting clearer and clearer about what different people value for different reasons." ― Kate O'Neill, Pixels and Place: Connecting Human Experience Across Physical and Digital Spaces

PNB Q3FY19 results

This shows strong fundamentals of the bank

Mr Sunil Mehta

PNB MD & CEO

The gross NPA ratio declined to 16.33per cent in December 2018 from 18.38 per cent in March 2018 and net NPAs fell to 8.22 per cent in December 20188 from 11.24 per cent in March '18.

Digital initiatives

"There are customers we serve, and customers we service. -Captain Andreyasn" ― Howard Tayler, Resident Mad Scientist

The bank continues to launch many new digital initiatives to continue its position as India's Preferred National Bank and provide a seamless customer experience:
• PNB One launched with interactive interface, features available; Scan and Pay through QR Code, Simplified dashboard to manage key banking activities, Pay Bills/Recharge, available in English and Hindi, Manage Debit and Credit Card and Bio-metric authentication for greater security, Value Added Services with Complaint Service Management
• Bank was identified as a Digital Partner in KumbhPrayagraj 2019 wherein Bank is providing PNB eRupaya, Made in India solution for digital payments and also providing facility of Mobile ATMs, Cash Deposit Machines to the pilgrims
• Online Loan Application customized for Housing, Car and Personal Loan modules

It is always along the side of us...on the inside, looking out.

"Customer-centric enterprise vision, strategy, and governance model should enforce the alignment of the various silos towards customer-centric products and delivery mechanisms." ― Pearl Zhu, Quality Master

PNB MD & CEO, Mr Sunil Mehta, says :

Improving the bank's finances

"We had made a promise to bounce bank in 6 months and we have fulfilled it. We are happy to announce that the efforts of the extended PNB family, especially its employees, has borne fruit and we are back in black. The accelerated recovery program launched by the bank and streamlining of processes has played a crucial role in improving the bank's finances. We are also happy that this return to profitability is after 100 per cent provisions for all our commitments."

"We are on our way towards recovery"

"The bank's recovery for the first three quarters is Rs 16000 crore, almost three times the recovery last year"

PNB, which has already recovered Rs 16,000 crore of NPAs, expects to meet its guidance on recovery for the full year and has improved its asset quality significantly. Customers also continue to repose their faith in the bank and domestic deposits have risen to INR 6,30,646 crore by end of December '18.

The bank continues to launch many new digital initiatives to continue its position as India's Preferred National Bank and provide a seamless customer experience:

On PNB's asset quality, the bank said, its gross non-performing assets (NPAs) as a percentage to total advances rose to 16.33 per cent from 12.11 per cent in the year-ago period.

Its net NPAs, however, came down to 8.22 per cent from 8.90 per cent at the end of December 2017, PNB said in a BSE filing.

Total provisions, excluding for income tax, made during the third quarter of the current financial year were Rs 2,753.84 crore as against Rs 4,466.68 crore in the year-ago period.