Punjab National Bank (PNB) reported a 14% year-on-year rise in net profit for the September quarter, supported by steady business growth, improved asset quality, and robust digital adoption.
The public sector lender’s net profit rose to ₹4,904 crore, up from ₹4,304 crore in the year-ago period.
Net interest income (NII) was slightly lower, at ₹10,469 crore, versus ₹10,516.7 crore a year earlier. The company reported a net interest margin (NIM) of 2.72% for its domestic business.
Operating profit for the quarter increased to ₹7,227 crore, while return on assets (RoA) improved to 1.05% from 1.02% a year ago.
PNB’s gross non-performing assets (GNPA) declined to ₹40,343.3 crore, with the gross NPA ratio at 3.45%, down from 3.78% in the previous quarter.
Net NPAs were at ₹4,025.8 crore, translating into a net NPA ratio of 0.36%. The provision coverage ratio improved to 96.91% from 96.67% a year earlier.
The bank reported strong growth in global business, which rose 10.6% year-on-year to ₹27.86 lakh crore, driven by advances and deposits growth. CASA deposits increased 4.7% year-on-year to ₹5.83 lakh crore, with a CASA ratio of 37.29%.
Total advances reached ₹11.69 lakh crore, led by retail, agriculture, and MSME segments. Retail credit, excluding IBPC, grew 18.1%, including 12.9% growth in housing loans and 30.9% in vehicle loans.
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PNB also highlighted strong progress in digital banking initiatives, with digital transactions growing 31% year-on-year to 313 crore, UPI transactions through PNB One rising 53%, and WhatsApp Banking users nearly doubling to 83.4 lakh.
The lender operates 10,228 domestic branches and 2 international branches, with over 53,000 banking touchpoints including ATMs and BCs.
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