Punjab National Bank (PNB) Announces Financial Results for the Q3 & 9MFY’25

Mumbai, 31 January 2025: Punjab National Bank (PNB) today announced their Financial Results for the Q3 & 9MFY’25.

Net Profit increased Y-o-Y by 102.8% to ₹ 4,508 Crore in Q3 FY’25 as against ₹ 2,223 Crore in Q3 FY’24. Return on Assets (RoA) improved to 1.03% in Q3 FY’25 from 0.58% in Q3 FY’24.

Return on Equity (RoE) improved to 19.22% in Q3 FY’25 from 12.45% in Q3 FY’24. Net Interest Income (NII) increased to ₹ 11,032 Crore in Q3 FY’25 from ₹ 10,293 Crore in Q3 FY’24 showing an improvement of 7.2% on Y-o-Y basis. Global Net Interest Margin (NIM) stands at 2.97% in 9MFY’25 and 2.93% in Q3 FY’25. GNPA ratio improved by 215 bps on Y-o-Y basis to 4.09% as on December’24 from 6.24% as on December’23. NNPA ratio improved by 55 bps on Y-o-Y basis to 0.41% as of December’24 from 0.96% as on December’23. Provision Coverage Ratio (including TWO) improved by 249 bps on Y-o-Y basis to 96.77% as on December’24 from 94.28% as on December’23. Provision Coverage Ratio (Excluding TWO) improved by 483 bps on Y-o-Y basis to 90.23% as on December’24 from 85.40% as on December’23. Credit Cost improved by 114 bps on Y-o-Y basis to 0.12% in Q3 FY’25 from 1.26% in Q3 FY’24. Global Business grew by 15.25% on Y-o-Y basis to ₹ 26,39,991 Crore as on December’24 from ₹ 22,90,742 Crore as on December’23. Global Deposits registered a growth of 15.58% on Y-o-Y basis to ₹ 15,29,699 Crore as on December’24 from ₹ 13,23,486 Crore as on December’23. Global Advances increased by 14.79% on Y-o-Y basis to ₹ 11,10,292 Crore as on December’24 from ₹ 9,67,256 Crore as on December’23. RAM Advances grew by 16.43% on Y-o-Y basis to ₹ 5,96,482 Crore as of December’24 from ₹ 5,12,327 Crore as on December’23.

In terms of Deposits, Savings Deposits increased to ₹ 4,92,138 Crore registering a Y-o-Y growth of 2.8%. Current Deposits increased to ₹ 70,018 Crore registering a Y-o-Y growth of 2.0%. CASA Deposits increased to ₹ 5,62,156 Crore recording a Y-o-Y growth of 2.7%. CASA Share of the bank stands at 38.12% as on December’24. Total Term Deposit witnessed a growth of 24.7% on Y-o-Y basis to ₹ 9,67,543 Crore as on December’24. In terms of Advances, Total Retail credit increased by 22.6% Y-o-Y to ₹ 2,62,627 Crore as on December’24. The bank grew under Core Retail Advances recording a Y-o-Y growth of 17.3%. Within Core Retail Credit: Housing Loan grew by 17.3% Y-o-Y to ₹ 1,11,230 Crore. Vehicle loan posted a growth of 26.8% Y-o-Y to reach ₹ 24,663 Crore. Agriculture Advances grew by 13.2% on Y-o-Y basis to ₹ 1,74,472 Crore. MSME Advances increased Y-o-Y by 10.7% to ₹ 1,59,383 Crore.

In terms of Asset Quality, Gross Non-Performing Assets (GNPA) declined by ₹ 14,957 Crore to ₹ 45,414 Crore as on December’24 from ₹ 60,371 Crore as on December’23. Net Non-Performing Assets (NNPA) declined by ₹ 4,379 Crore to ₹ 4,437 Crore as on December’24 from ₹ 8,816 Crore as on December’23.

In terms of Profitability, Net Profit for 9MFY’25 was at ₹ 12,063 Crore recording growth of 130.5% on YoY basis. Operating Profit for Q3FY’25 was at  ₹ 6,621 Crore and ₹ 20,055 Crore for 9MFY’25 recording growth of 4.6% and 8.3%, respectively on YoY basis. Net Interest Income for 9MFY’25 was at ₹ 32,025 Crore recording growth of 7.8% on YoY basis. Total Income for Q3 FY’25 was at ₹ 34,752 Crore and ₹ 1,01,365 Crore for 9MFY’25 recording growth of 16.0% and 15.3%, respectively on YoY basis. Total Interest Income for Q3 FY’25 was at ₹ 31,340 Crore and ₹ 89,771 Crore for 9MFY’25 recording growth of 14.8% and 13.9%, respectively on YoY basis. Non-interest income for Q3 FY’25 was at ₹ 3,412 Crore and ₹ 11593 Crore for 9MFY’25 recording growth of 27.6% and 26.9%, respectively on YoY basis. Total Interest Expenses for Q3 FY’25 was at ₹ 20,308 Crore and ₹ 57,746 Crore for 9MFY’25, increased by 19.5 % and 17.7%, respectively on YoY basis. Operating Expenses for Q3 FY’25 was at ₹ 7,824 Crore and ₹ 23,564 Crore for 9MFY’25, increased by 17.9% and 15.8%, respectively on YoY basis.

CRAR remained at 15.41% as on December’24 against 14.63% as on December’23. Tier-I Capital was at 12.53% (CET-1 remained at 10.65% as on December’24 against 9.86% as on December’23 and AT-1 remained at 1.88% as on December’24 against 1.87% as on December’23) and Tier-II at 2.88% as on December’24.

Global Yield on Advances was at 8.38% in Q3FY’25 and 8.34% in 9M FY’25 as compared to 8.45% in Q3FY’24 and 8.22% in 9MFY’24. Global Cost of Deposits increased YoY by 28 bps to 5.24% in Q3FY’25 and 33 bps to 5.18% for 9MFY’25. Yield on Investment improved YoY by 11 bps to 6.87% in Q3FY’25 and 20 bps to 6.98% for 9MFY’25. Return on Assets (RoA) improved to 0.96% in 9MFY’25 from 0.46% in 9MFY’24. Return on Equity (RoE) improved to 18.87% in 9MFY’25 from 10.01% in 9MFY’24. Business per employee improved to ₹ 26.29 Crore as on December’24 from ₹ 23.08 Crore as on December’23. Business per branch improved to ₹ 250.22 Crore as on December’24 from ₹ 220.51Crore as on December’23. Net profit per employee improved to ₹ 18.48 lakh in Q3FY’25 from ₹ 9.16 lakh in Q3FY’24. Net profit per branch improved to ₹ 175.87 lakh in Q3FY’25 from ₹ 87.47 lakh in Q3FY’24.

Priority Sector Advances exceeded the National Goal of 40% and stands at 40.45% of ANBC. Agriculture advances exceeded the National Goal of 18% and stands at 18.20% of ANBC. Credit to Small & Marginal Farmers exceeded the National Goal of 10% and stands at 10.12% of ANBC. Credit to Weaker Sections surpassed the National Goal of 12% and stands at 13.56% of ANBC. Credit to Micro Enterprises surpassed the National Goal of 7.50% and stands at 8.02% of ANBC.

PMJDY accounts increased to 5.34 Crore as on December’24 from 4.91Crore as on December’23. Enrollments under PMJJBY, PMSBY & APY as on December’24 are as under:

                                                                                                       (No. In Lacs)

In terms of Digital Initiatives, the number of PNB One Activated users increased to 208 Lakh as on 31.12.2024 from 157 Lakh as on 31.12.2023 registering a growth of 32.5% on Y-o-Y basis. Number of WhatsApp Banking users increased to 52.71 Lakh as on 31.12.2024 from 27.8 Lakh as on 31.12.2023 registering a growth of 89.6% on Y-o-Y basis. Number of PNB One Biz (Corporate M-Banking App with 150+ features) users as on 31.12.2024 is 58K. Key Initiatives also included Dynamic Currency Conversion (DCC) facility introduced in POS Terminals, Loyalty Reward Points for Debit Card Users & Txn through PNB One, Co-Branded Credit Card with EasyMyTrip, Apply for Debit Card, Wearables and Green PIN OTP generation through WhatsApp Banking, Digital Financing against Electronic Negotiable Warehouse Receipt (eNWR), Single journey for opening Demat & trading Account through PNB one, and Opening of SSA account through PNB One.

As on 31^st December 2024, the Bank has 10,168 domestic branches and 2 International Branches. Out of total no. of branches, Bank has 63.3% branches in Rural & Semi-Urban areas. The bank also has 12,034 ATMs and 32,139 BCs as part of its distribution network making the total number of 54,341 touch points as on 31.12.2024. The distribution of branches is as under:

In terms of Awards & Accolades, PNB won the SKOCH Award @ 100th SKOCH Summit – For ‘Analytical Model Based Derived Cash Retention Limit of ATMs’ under BFSI category. PNB received Outstanding Performance in SHG Linkage 2023-24 – By Deen Dayal Antyodaya Yojana, NRLM, Ministry of Rural Development, GOI. PNB was also awarded at 20th Annual Banking technology Conference Expo and Citation 2024 by IBA under 2 categories – Best IT Risk Management (Special Mention) and Best Fintech and DPI Adoption (Special Mention). PNB was also the 1st Runner up award with SHRM HR Excellence – In the field of Inclusion, Equity & Diversity under PSE Category by Society of Human Resource Management (SHRM).