Q3FY23 results: Net profit of PNB dips by 44%

New Delhi: Punjab National Bank (PNB) on Monday reported a 44 percent decline in its standalone net profit at Rs 629 crore in the third quarter that ended in December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. However, total income during October-December 2022 increased to Rs 25,722 crore as against Rs 22,026 crore in the year-ago period, PNB said in a regulatory filing.

PNB Q2 net profit falls by 63% to Rs 411 cr

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 9.76 percent as compared to 12.88 percent at the end of third quarter of previous fiscal. At the same time, the net NPAs eased to 3.30 percent as against 4.90 percent in the same period a year ago.

However, provisions for bad loans increased to Rs 3,908 crore during the quarter as against Rs 3,654 crore a year ago.

The capital adequacy ratio rose to 15.15 pe cent in the December quarter as against 14.91 percent.

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