Category: Punjab National Bank

In Q2 FY24, PNB reported a consolidated net profit of Rs 1990.18 crore, a significant increase from Rs 494.11 crore in Q2 FY23

The bank aims to raise funds through approved methods or a mix in FY 2024-25. Punjab National Bank (PNB) operates in Treasury Operations, Corporate/Wholesale Banking, Retail Banking, Digital Banking and other areas.In Q2 FY24, the company reported a consolidated net profit of Rs 1990.18 crore, a significant increase from Rs 494.11 crore in Q2 FY23. Its total income surged by 28.2 per cent YoY to Rs 29,857.05 crore in Q2 FY24.On Friday, the stock closed with a 0.68 per cent decline at Rs 89.22 on the BSE. Additionally, the stock exchanges will be closed on…
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Source: https://www.businessworld.in/article/PNB-Board-To-Consider-Capital-Raise/23-12-2023-503317/

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.PNB Housing Finance Ltd.’s Q3 FY24 profit after tax grew 26% YoY but declined 12% QoQ to ~Rs 3.4 billion (~15% miss) due to net interest margin (excluding one-offs) compression of ~20 basis points QoQ. Management attributed this to a combination of factors such as: Corporate book decline, Loan book retention to stem balance transfer-outs, and Competitive dynamics resulting in…
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Source: https://www.ndtvprofit.com/amp/research-reports/pnb-housing-q3-results-review-disbursements-weak-nim-compression-leads-to-earnings-miss-motilal-oswal

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Public sector lender Punjab National Bank(PNB) on January 25 reported a net profit of Rs 2,222.8 crore for the December quarter of the financial year (FY) 2023-24, up 253.49 percent from the year-ago period.
The bank’s gross non-performing asset (NPA) stood at 6.24 percent, down from 9.76 percent recorded in the same quarter last year. On the other hand, net NPA for the quarter stood at 0.96 percent, improving from 3.30 percent on a year-on-year basis.

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At 2.50…
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Source: https://www.moneycontrol.com/news/business/punjab-national-bank-q3-results-net-profit-jumps-three-times-asset-quality-improves-12123471.html/amp

Q3 Earnings Today: Companies continued to report their Q3 results on Thursday as several heavyweights reports multifold increase in their net profits. This comes after banking and IT shares tanked on Indian equity markets at the backdrop of Tech Mahindra, which saw consolidated profits decline by 61 per cent to Rs 510.4 crores. However, the real estate sector stood out, limiting Sensex and Nifty indices’ fall.
On the back of strong domestic demand, JSW Steel Ltd on January 25 (Thursday) reported a five-fold rise in consolidated net profit at Rs 2,450 crore for December quarter against Rs 474 crore in the year-ago period. Income during the third quarter increased to Rs 42,134 crore from…
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Source: https://indianexpress.com/article/business/companies/q3-earnings-report-jsw-steel-pnb-acc-net-profit-sbi-life-9127623/lite/

Stock market today: Shares of Punjab National Bank (PNB) today opened with an upside gap on Thursday as the market is expecting healthy profitability of the PSU bank during the October to December 2023 quarter. PNB is going to declare its Q3 results today and the market believes that the state-owned bank may report improvement in NIMs and asset quality.

According to stock market experts, the PNB share price is facing a hurdle at ₹105 to ₹106 zone and on breaching this hurdle, the PSU stock may…
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Source: https://www.livemint.com/market/stock-market-news/pnb-share-price-jumps-ahead-of-q3-results-today-buy-or-sell/amp-11706157899803.html

The amount of loan assets written off stood at Rs 59.10 crore in the third quarter, as compared with Rs 254.8 crore in the year-ago period. Lower write-offs mean lower provisions for the lender.The net interest income shrank 19% to Rs 595 crore. On a quarterly basis, the NII fell 10%. The net interest margin, a key measure of profitability, stood at 3.65%.The asset quality improved as the gross non-performing assets narrowed to 1.73% of the gross advances from 1.78% in the previous quarter. The net NPA ratio shrank to 1.14% as compared with 1.19% in the September quarter. This was due to recoveries, write-offs and sale of delinquent assets to asset reconstruction companies, the housing…
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Source: https://www.ndtvprofit.com/amp/quarterly-earnings/pnb-housing-finance-q3-results-profit-rises-27-meeting-estimates

PNB Housing Finance, a housing finance company, on Tuesday said that India Ratings and Research (Ind-Ra) has upgraded the rating of the company’s non-convertible debentures (NCDs) to ‘IND AA+’ from ‘IND AA’ with stable outlook.Further, Ind-Ra said that NCDs limit has been split into bank loans and NCDs and ‘IND AA+’ rating has been assigned to the bank loans.The rating rationale, published on January 2, 2024, mentions that the key drivers for the rating upgrade are granularisation of loan book with 96 per cent being retail and almost complete rundown of the corporate book, robust capital buffers post equity infusion of ₹2,500 through rights issue, improved asset quality,…
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Source: https://www.thehindubusinessline.com/money-and-banking/india-ratings-revises-pnb-housing-finance-ncd-ratings-from-aa-to-aa/article67699498.ece/amp/