Punjab National Bank (PNB) has reported its financial results for the quarter ended September 30, 2024, reflecting a robust performance with significant improvements in net interest income (NII) and net profit.
In Q2 FY25, PNB’s net interest income (NII) grew by 15.2% year-on-year (YoY) to ₹10,567 crore, compared to ₹9,173 crore in Q2 FY24. This growth was driven by an increase in interest earned, which amounted to ₹29,875 crore in the current quarter, up from ₹26,354 crore in the same quarter last year.
The bank’s net profit for Q2 FY25 surged by 36.2% YoY to ₹2,706 crore, compared to ₹1,988 crore in Q2 FY24. This substantial increase was attributed to better cost management and improvement in asset quality.
Key Financial Highlights:
- Total Income: ₹34,447 crore, showing steady growth over the year.
- Interest Earned: ₹29,875 crore, compared to ₹26,354 crore in Q2 FY24.
- Operating Expenses: Increased to ₹8,235 crore from ₹7,505 crore a year ago.
Punjab National Bank’s strong performance in Q2 reflects its focus on enhancing profitability and maintaining operational efficiency.
Disclaimer: The above analysis is for informational purposes and does not constitute investment advice.
