PNB Q1FY22 net profit improves to Rs 1,023 crore PNB Q1FY22 net profit improves to Rs 1,023 crore
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PNB Q1FY22 net profit improves to Rs 1,023 crore
Thesynergyonline Banking Bureau
Operating Profit rises y-o-y by 15.5 % to Rs 6,099 crore
NEW DELHI, AUGUST 02 :
The net profit of Punjab National Bank (PNB) improved to Rs 1,023 crore in in the first quarter of financial year 2021-22 (Q1FY22). Operating Profit increased y-year-over-year (y-o-y by 15.5 per cent to Rs. 6,099 crore. Global net interest income ( NIM) improved to 2.73 per cent in Q1 FY'22. Global Gross Business stood at Rs. 18,23,685 Crore as on June'21. Domestic Gross Business increased to Rs. 17,87,019 crore as at the end of June'21 from Rs. 17,46,461 crore in June'20 with a year-over-year (y-o-y) growth of 2.32 per cent. Domestic deposits stood at Rs 10,78,937 crore as at the end of June'21 as against Rs. 10,44,290 crore in June'20 with YoY growth of 3.32 per cent. Domestic Advances improved marginally to Rs 7,08,082 crore as at the end of June'21 from Rs 7,02,171 crore in June'20 with growth of 0.84 per cent. Domestic current account savings account (CASA) share improved by 170 basis points (bps) on y-o-y basis to 45.15 per cent in June'21. CASA Deposits grew by 7.34 per cent on y-o-y basis to Rs 4,87,136 crore in June'21.

Savings deposit up by 8.34 %

to Rs. 4,19,525 crore

Savings Deposit grew by 8.34 per cent on y-o-y basis to Rs 4,19,525 crore as on June'21. Retail Term Deposit (less than Rs 2 crore) grew by 10.73 per cent on y-o-y basis to Rs. 5,13,837 crore as on June' 21. Retail TD Rs 2 crorer + CASA share improved to 91.2 [per cent in June'21 from 85.40 per cent in June'20. Retail, Agriculture & MSME (RAM) share to Domestic Advances improved to 53.9 per cent in June'21 from 53.2 per cent in June'20. Total Recovery including cash recovery and Up-gradation during Q1 FY'22 improved to Rs 8,270 crore.

Cost to Income Ratio improved Y-o-Y to 43.64% in Q1 FY22 from 49.41% in Q1 FY'21. CRAR improved to 15.19% in June'21 from 12.63% in June'20. GNPA ratio stood at 14.33%, NNPA ratio stood at 5.84% in June'21 and PCR including TWO stood at 80.26 per cent.

Global advances stands at Rs 7,26,036 crore

Current deposit at Rs. 67,611 crore

Global deposit of the Bank increased to Rs. 10,97,649 Crore as on June'21 from Rs. 10,74,917 crore in June'20. Global Advances stood at Rs 7,26,036 crore as on June'21 against Rs 7,21,695 crore in June'20. Current Deposit stood at Rs 67,611 crore at the end of June'21 as against Rs 66,571 crore in June'20.

"Credit to Small and Marginal farmers at Rs 61,900 crore The bank has achieved National Goals in Priority sector at 42.10 per cent at Rs 2,83,935 Crore in June'2021, as against the target of 40 per cent. Credit to Small and Marginal farmers stood at Rs 61,900 crore in June'2021.

National Goal achievement is 9.17 per cent of ANBC, exceeding the target of 9 per cent. Credit to Weaker Sections stood at Rs. 85,050 crore in June'2021. National Goal achievement is 12.61 per cent of ANBC, exceeding the target of 11 per cent. Credit to Micro Enterprises stood at Rs 53,501 crore as on June'2021. The bank has achieved National Goal at 7.93 per cent of ANBC as against the target of 7.5 per cent.

Total Interest Income stands at Rs. 18,921 crore

Non-interest Income at Rs 3,594 crore

Total Income stood at Rs. 22,515 crore during Q1 FY'22 as against Rs. 24,293 Crore in Q1 FY'21. Total Interest Income stood at Rs. 18,921 crore and non-interest Income was at Rs 3,594 crore. Total expenditure declined by 13.7 per cent to Rs. 16,416 crore in Q1 FY'22 from Rs.19,013 crore in Q1 FY'21. Gross Non Performing Assets (GNPA) stood at Rs. 1,04,076 crore as on June'21 as against Rs 1,01,849 crore in June'2020. Net Non Performing Assets (NNPA) stood at Rs 38,581 crore as on June'2021 as against Rs. 35,303 Crore in June'20. Provision Coverage Ratio (PCR) excluding TWO stood at 62.93% in June'2021 against 65.34 per cent in June'2020. Capital Adequacy
CRAR improved to 15.19 per cent in June'2021 from 12.63 per cent as at June'2020 out of which Tier-I is 12.47 per cent, CET-1 is 11.56 per cent and Tier-II CRAR is 2.72 per cent as at June'21.

Digitalization

Internet Banking Services (IBS) users increased to 262 Lakhs as at June'21 from 233 lakh in June'20. PNB One Mobile Banking Services (MBS) users increased 49% y-o-y to 251 lakhs as at June'21 from 169 Lakhs in June'20. Bharat QR Code users increased to 4 Lakhs as at June'21 from 1.34 Lakh in June'20 with y-o-y growth of 198 per cent. Number of UPI transactions increased 90 per cent y-o-y to 36.45 crore in June'21 from 19.16 crore in June'20.

PNB Q1FY22 net profit improves to Rs 1,023 crore

The bank has achieved National Goals in Priority sector at 42.10 per cent at Rs. 2,83,935 crore in June'2021,
as against the target of 40 per cent.

PNB statement

on Q1FY22 results
PNB Q1FY22 net profit improves to Rs 1,023 crore

Ana Claudia Antunes
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