Punjab National Bank Q3 FY 2015 net profit at Rs 775 crore – Up 2.5% YoY

Punjab National Bank (PNB) on 3rd February 2015 has announced its financial results for the third quarter ending 31st December 2014. Net profit for October-December quarter FY 2015 has gone up by 2.5 percent Year-on-Year to Rs 774.6 crore compare to Rs 755.4 crore in same quarter last year FY 2014.

Net interest income which is derived after taking out interest expenses from Interest income is at Rs 4233 crore for Q3 FY 2015 as against 4221 crore in third quarter FY 2014. As on December 2014 (April 2014 to December 2014) Net interest income for PNB is at Rs 12764 crore compare to Rs 12144 crore, increase of 5.1 percent.

pnb - punjab national bank

Punjab national bank’s other income has jumped 37.5 percent from Rs 938 crore in Q3 FY 2014 to Rs 1291 Crore in third quarter ending FY 2015.

Punjab National Bank’s gross NPA has gone up from last year (Q3 FY 2014) figure of 4.96 percent to 5.97 percent. Gross NPA at the end of financial year 2013-2014 i.e. as on March 2014 was at 5.25 percent. Gross Non Performing Asset for the quarter Q3 FY 2015 is at Rs 22211 crore compare to Rs 16596 crore in Q3 FY 2014.

For third quarter FY 2015, net NPA for Punjab National Bank is at 3.82 percent compare 2.8 percent in last year Q3 FY 2014. Net Non Performing Asset is at Rs 13788 crore for third quarter ending FY 2015 as against Rs 9084 crore in same quarter FY 2014.

Deposits at the end of December 2014 amounted to Rs 484138 crore as compared to Rs 420647 crore in last year December 2013, exhibiting a growth of 15.1% on YoY basis.

Punjan National bank has 58.87 percent government holding, 17.34 percent of FII holdings and 13.17 percent holds by insurance companies.

As on 31st December 2014, PNB has 2521 rural braches, 1541 branches in semi-urban areas, 1335 branches in urban areas and 1009 branches in metro cities.

By the end of December 2014, Punjab national bank has expanded its ATM network to 8209 compare to 6698 at the end of December 2013.

Up to 31st December 2014, PNB has opened 58.86 lakh accounts with Rs 776.46 Crore under Prime Minister Jan Dhan Yojna.

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