PNB Share Price in Focus; Reports 145% YoY Surge in Net Profit in Q2 FY 2025 Earnings

Punjab National Bank (PNB) announced its financial results for the quarter and half-year ended September 30, 2024. 

Q2 FY 2025 Financial Performance

The bank reported a net profit of ₹4,303 crore for Q2 FY25, marking a significant year-on-year (YoY) increase of 145% compared to ₹1,756 crore in Q2 FY24.

The Return on Assets (RoA) improved impressively to 1.02% in Q2 FY25 from 0.46% in the same quarter last year, while the Return on Equity (RoE) also saw a substantial rise, reaching 19.91% compared to 10.15% in Q2 FY24. The Net Interest Income (NII) grew by 5.99% YoY, increasing from ₹9,923 crore in Q2 FY24 to ₹10,517 crore in Q2 FY25.

PNB’s global business expanded by 11.93% YoY, amounting to ₹25,20,246 crore as of September 2024, up from ₹22,51,631 crore a year earlier. The bank’s global deposits increased by 11.33% YoY, reaching ₹14,58,342 crore compared to ₹13,09,910 crore in September 2023. Global advances also saw a healthy increase of 12.76% YoY, rising to ₹10,61,904 crore from ₹9,41,721 crore.

In terms of retail banking, savings deposits grew by 3.7% YoY, amounting to ₹4,88,635 crore, while total retail credit expanded by 14.6% YoY, reaching ₹2,50,149 crore as of September 2024. The bank made significant strides in asset quality, with Gross Non-Performing Assets (GNPA) declining by ₹17,981 crore to ₹47,582 crore from ₹65,563 crore a year ago. Similarly, Net Non-Performing Assets (NNPA) decreased by ₹8,440 crore to ₹4,674 crore.

As of September 30, 2024, PNB operates 10,159 domestic branches and 2 international branches, with 63.31% of its branches located in rural and semi-urban areas.

PNB Share Price

On October 29, 2024, PNB share price opened at ₹102.44, up from its previous close of ₹98.64. However, at 11:42 AM, the share price of PNB was trading at ₹98.15, down by 0.50%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.