PNB Q3 PAT more than doubles to ₹4,508 crore 

Punjab National Bank Ltd. reported third quarter net profit more than doubled to ₹4,508 crore from ₹2,223 crore in the year-earlier period. Net interest income (NII) increased 7.2% year on year (YoY) to ₹11,032 crore.

Global net interest margin (NIM) stood at 2.93% for the quarter. Gross non-performing assets (GNPA) of the bank declined by ₹14,957 crore to ₹45,414 crore from ₹60,371 crore a year earlier.

Net non-performing assets (NNPA) declined by ₹4,379 crore to ₹4,437 crore from ₹ 8,816 crore in the same period last year.

GNPA ratio improved by 215 bps YoY to 4.09%. NNPA ratio improved by 55 bps YoY to 0.41%.

Provision coverage ratio improved by 249 bps YoY to 96.77%. Credit cost improved by 114 bps YoY to 0.12%, the bank said.

Global Business of the bank during the quarter grew 15.25% YoY to ₹26,39,991 crore. Global deposits registered a growth of 15.58% YoY to ₹ 15,29,699 crore. Global advances increased by 14.79% YoY to ₹ 11,10,292 crore. Among this Retail, Agriculture, MSME (RAM) advances grew by 16.43% YoY to ₹5,96,482 crore, the bank said.