Punjab National Bank (PNB) experienced an impressive surge of nearly 3.5%, fueled by a robust increase in net profit, which reached a formidable ₹1,756 crore.
PNB’s latest financial report unveiled a staggering 327% surge in net profit, showcasing a substantial leap from the previous year’s figures. This remarkable profitability surge is a testament to PNB’s resilience and strategic financial measures, reaffirming its robust position in the banking industry.
The bank’s financial results for the second quarter (Q2) and the first half of fiscal year 2024 (HY1 FY’24) revealed substantial growth and noteworthy improvements across various key parameters. Notably, PNB recorded a significant surge in savings deposits, with figures rising from ₹4,51,707 Crore in September 2022 to ₹4,71,238 Crore in September 2023. Additionally, the bank held ₹67,038 Crore in current deposits as of September 2023, further highlighting its financial strength and stability.
At 9:49 AM the shares were trading 3.29% higher at ₹72.15
