PNB Q2 net profit up 33.4% at Rs 411 crore on q-o- q basis
Mathematics, rightly viewed, possesses not only truth, but supreme beauty—a beauty cold and austere, like that of sculpture, without appeal to any part of our weaker nature, without the gorgeous trappings of painting or music, yet sublimely pure, and capable of a stern perfection such as only the greatest art can show." ― Bertrand Russell, A History of Western Philosophy .
PNB Q2 net profit up 33.4% at Rs 411 crore on q-o- q basis
PNB Q2 net profit up 33.4% at Rs 411 crore on q-o- q basis

Gross revenue

"Whereas gross revenue speaks more to businesses pricing power and scale, net income speaks more to its efficiency and operations." ― Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

PNB Q2 net profit up 33.4% at Rs 411 crore on q-o- q basis PNB Q2 net profit up 33.4% at Rs 411 crore on q-o- q basis
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Operating profit up 38.5 % at Rs 5567 crore on y-o-y basis
Thesynergyonline Banking Bureau
Net profit for Q2 FY23 at Rs 411 crore

up 33.4 per cent on Quarter on Quarter (QoQ ) basis

NEW DELHI, NOVEMBER 03 : Punjab National Bank (PNB) registered net profit for Q2 FY23 at Rs 411 crore which grew 33.4 per cent on Quarter on Quarter (QoQ ) basis. The operating profit was at Rs 5567 crore during Q2 FY23 and grew by 38.5 per cent on year-on- year (YoY) basis.
"Profit is not the purpose of a business, but rather the test of its validity." ― Peter F. Drucker
Global NIM improved by 61 bps to 3.00 per cent in Q2 FY23 from 2.39 per cent in Q2FY'22. For September'22. Global NIM for Q2FY23 improved by 21 basis points (bps) on QoQ basis. Bank's Net interest income increased by 30.2 per cent YoY to Rs 8271 Crore in Q2 FY23. Cost to income ratio for Q2 FY23 was at 49.93% an improvement of 834 bps on YoY basis. Global Gross Advances grew by 12.84 percent on YoY basis to Rs 830212 crore in September'22.Retail Credit increased by 16.95 per cent on YoY basis to ₹155409 crore as at the end of September'22 with Core Housing loan having grown by 7.8% on YoY basis. Global Deposits grew by 7.00 per cent on YoY basis to ₹1193501 Crore as at the end of September'22 as against Rs 1115373 Crore in September'21.

CASA Share stands at 44.91%

of Domestic Deposits as on September'22.

Current Account Savings Account (CASA) Share stands at 44.91 per cent of Domestic Deposits as on September'22. GNPA ratio improved by 315 bps to 10.48 per cent in September'22 from 13.63% in September'21. There was an improvement of 79 bps on QoQ basis. Net Non-Performing Assets Ratio (NNPA)  (NNPA) ratio improved by 169 bps to 3.80 per cent in September'22 from 5.49 per cent in September'21. There was an improvement of 48 bps on QoQ basis. Provision coverage ration (PCR) including TWO improved by 319 bps to 83.96 per cent in September'22 from 80.77 per cent in September'21. Credit Cost improved on QoQ basis by 70 bps to 1.76 per cent in Q2FY23. Global Gross Business increased by 9.33 per cent on YoY basis to ₹2023712 crore as at the end of September'22 as against Rs 1851097 crore in September'21. Savings deposits grew by 5.84 per cent to Rs 451707 crore in September'22. Current deposits were at Rs 72741 crore in September'22. As on September'22, the share of Risk Assessment Model (RAM) f RAM is 53.5 per cent and YoY growth is 8.85 per cent

Agriculture advances exceed National Goal

at 19.03 per cent of ANBC

Priority Sector Advances exceeded the National Goal of 40% and was at 43.54 per cent of ANBC. Agriculture advances exceeded the National Goal of 18 per cent and was at 19.03 per cent of ANBC. Credit to Small and Marginal farmers exceeded the National Goal achievement of 9.5% and is at 10.16% of ANBC. Credit to Weaker Sections exceeded the National Goal achievement of 11.5% and is at 14.08 per cent of ANBC. Credit to Micro Enterprises exceeded the National Goal achievement of 7.5 per cent and is at 8.35 per cent of ANBC.

"One sure way to increase a businesses profits is to implement a process improvement program. When a business audits it's internal processes and extracts waste from those processes, the result is inevitably more time or money being leftover." ― Hendrith Vanlon Smith

Housing Loan increased by 7.8 per cent on y-o-y basis to Rs 76877 crore. Vehicle loan increased by 35.3 per cent on YoY basis to Rs 14038 crore Personal Loan increased by 36.4 per cent on YoY basis to Rs 14294 crore. Agriculture Advances increased YoY by 4.81 per cent to Rs 140303 crore. MSME Advances increased YoY by 4.57 per cent to per cent 130218 crore.

Total Income of the Bank for Q2FY23 was at Rs 23001 Crore and Rs 44295 Crore for HY1-23. It grew by 8.2 per cent and 0.5 percent respectively on YoY basis.Total Interest Income of the Bank for Q2FY23 was at Rs 20154 crore and Rs 38911 Crore for HY1-23 It grew by 12.1 per cent and 5.4 per cent respectively on YoY basis. Fee based income for Q2FY23 was at ₹1307 Crore and ₹3058 Crore for HY1-23. It grew by 12.5 per cent and 14.7 per cent respectively on YoY basis.Total Expenditure of the Bank for Q2FY23 was at Rs 17434 Crore and for HY1-23 was at ₹33349 crore.

Global Cost of Deposits Improve y-o-y by 12 bps

to 3.90 % in Q2 FY23 and 19 bps to 3.85 per cent for first half

Global Cost of Deposits Improved YoY by 12 bps to 3.90 per cent in Q2 FY23 and 19 bps to 3.85 per cent for HY September'22. Global Cost of Funds Improved y-o-y by 7 bps to 3.40 per cent in Q2 FY23 and was at 3.40 per cent for HY September'22. Global Yield on Advances at 6.91 per cent in Q2 FY23 and 6.70 per cent in HY September'22. For Q2FY23 It improved by 43 bps on YoY basis. Global Yield on funds at 5.77 per cent in Q2 FY23 and 5.72 per cent for HY September'22. An improvement by 41 bps and 22 bps respectively on YoY basis. Operating profit per employee for the quarter Q2FY23 improved to Rs 22 lakh from Rs 16 lakh in Q2FY22.

"In business, profitability is a non-negotiable."

Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

"At the end of the day, the business needs to be profitable if it's going to keep providing the products or services that the customers love. If you're a customer and you love what you're buying from a business, then you should want that business to be profitable so that you can keep on buying that stuff from them." ― Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

"The profit motive is the most potent source of collective motivation and the most efficient means for society to solve its problems. Anywhere you insert a profit motive - people will self assemble groups, leverage resources, and implement processes all in the effort to satisfy that profit motive." ― Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

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A veratile commodity

"Truth, meanwhile, was a weapon that even a damaged fist could still grasp and wield. It was a remarkably versatile commodity; it could be traded, or help serve an end, or produce a profit." ― Mark Allen Smith, The Inquisitor