PNB Q4 results 2024: Net profit is up 160% year over year. Key highlights you should know.

PNB Q4 results 2024 today: Savings deposits increased by 3.5% year on year to ₹4,80,298 crore.

(Punjab National Bank) PNB Q4 Results 2024 Date & Time
Q4 results 2024: PNB posted a net profit of ₹3,010.27 crore, representing a roughly 160 percent YoY increase from ₹crore in Q4 FY23.

PNB Q4 2024 results: The Punjab National Bank (PNB) released its standalone quarterly results for the fourth quarter of the preceding fiscal year. The PSU bank posted a net profit of ₹3,010.27 crore in Q4FY23, approximately 160 percent higher than the previous year’s net profit of ₹crore. In Q3 FY24, PNB’s net profit increased by around 35%, reaching ₹2,222.81 crore. PNB’s net profit for Q4 FY24 fell short of market forecasts of ₹3,300 crore.

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Top takeaways from PNB Q4 results today

Here are the important takeaways from the PNB results for the fourth quarter of fiscal year 2023–24, which illustrate the bank’s financial stability and growth:


[1] Savings deposits grew by 3.5% year on year to ₹4,80,298 crore.

[2] On a quarterly basis, current deposits increased by ₹3,565 crore from March’24 to ₹72,201 crore.

[3] CASA deposits increased by 2.7% year on year to ₹5,52,499 crore.

[4] In March’24, PNB’s retail term deposit (less than 2 crore) grew by 9.5% year on year, hitting ₹5,62,705 crore. This demonstrates the bank’s capacity to retain customer cash.


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Advances of The Punjab National Bank (PNB)

[1] Retail credit increased by 12.6% to ₹2,22,574 crore in March’24.

[2] The bank developed impressively under Core Retail, with a YoY rise of 15.2%. Within the Core Retail Credit:

a) Housing loans increased by 14.5% to ₹93,694 crore.

b) Vehicle loans grew by 25.6% to reach ₹20,692 crore.

c) Personal loans rose by 14.4% to ₹20,766 crore.

[3] Agriculture advances increased by 11.3% year on year to ₹1,58,188 crore.

[4] In March’24, MSME advances increased by 7.0% year on year to ₹1,39,288 crore.

Read More: (PNB) Punjab National Bank Q4 2024 Results Date & Time: Dividend announcements and quarterly earnings schedules

Asset quality of The Punjab National Bank (PNB)

[1] The bank’s total income for Q4 FY24 and FY24 was ₹32,361 Crore and ₹1,20,285 Crore, respectively, representing an 18.7% and 23.6% year-on-year rise.

[2] The bank’s total interest income was ₹28,113 Crore for Q4 FY24 and ₹1,06,902 Crore for FY24, with a YoY rise of 17.9% and 25.6%, respectively.

[3] Fee-based income increased by 8.4% year on year, from ₹5,612 Crore in FY23 to ₹6,084 Crore in FY24.

Profitability of The Punjab National Bank (PNB)

[1] In March 2024, PNB’s Gross Non-Performing Assets (GNPA) decreased from ₹77,328 Crore in March 2023 to ₹56,343 Crore, demonstrating its effective loan portfolio management.

2] Net Non-Performing Assets (NNPA) decreased by ₹15,786 crore from March 2023 to ₹6,799 crore in March 2024.

[3] Net slippages decreased by ₹8646 crore, from ₹14198 crore in FY23 to ₹5552 crore in FY24.

Productivity ratio of The Punjab National Bank (PNB)

[1] Domestic net interest margin is 3.25% in Q4 FY24.

2] Global Yield on Advances increased year on year by 50 basis points to 8.44% in Q4 FY24 and 112 basis points to 8.28% in FY24.

[3] In March 2024, business per employee increased to ₹23.84 crore, up from ₹21.64 crore in March 2023 and ₹23.08 crore in the December 2023 quarter, indicating better operational efficiency. This increase demonstrates PNB’s dedication to increasing production and efficiency.

[4] Business per branch increased to ₹225.25 crore in March’24, up from ₹209.53 crore in March’23 and ₹220.51 crore in December’23.

[5] Net profit per employee increased to ₹8.61 lakhs in FY’24 from ₹2.57 lakhs in FY’23.

6] Net profit per branch increased to ₹81.33 lakhs in FY’24, from ₹24.88 lakhs in

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