Punjab National Bank on Monday reported a net profit of Net Profit Rs621cr for the second quarter ended September 30, 2020. It was a substantial increase than Net Profit of Rs308cr during the first quarter ended June 30, 2020 however lower than Rs757cr during Q2FY20.
Net Interest Income (NII) grew yoy by 29.3% to Rs8,393cr during Q2FY21 and by 18.9% to Rs 15,142 crore during HY21. Total Income stood at Rs23,439cr during Q2FY21 and at Rs47,731cr during HY21.
Operating Profit of the Bank grew by 7.1% on yoy basis to Rs5,675cr in Q2FY21. Operating Profit grew by 4.9% on yoy basis to Rs10,955cr in HY21. The Bank’s total expenditure declined by 6.4% to Rs17,764cr during Q2FY21 and by 2.3% to Rs36,776cr during HY21.
Global Business of the Bank at Rs17,86,670cr with a yoy growth of 1.06%. Global Deposit of the Bank grew by 1.37% on yoy basis to Rs10,69,747cr. Domestic CASA Share improved by 253 bps on yoy basis to 44.10% in September 2020.
Global Net Interest Margin (NIM) improved to 3.21% in Q2FY21 from 2.5% in Q1FY21 and 2.58% in Q2FY20. NNPA ratio at 4.75% in September 2020 improved by 64 bps from 5.39% in June 2020. Provision Coverage Ratio (PCR) improved by 225 bps to 83.00% as on Sept’20 from 80.75% as on June’20.
In Asset quality, Gross Non Performing Assets (GNPA) ratio declined to 13.43% as on September 30, 2020 from 15.66% in September 30, 2019. Provision Coverage Ratio (PCR) excluding TWO improved to 67.90% as on September 30, 2020 from 65.34% as on June 30, 2020. The Bank’s credit cost stood at 2.27% in September 2020.