PNB Q3 results: Net profit at Rs 506 crore, NII at Rs 8,313 crore
Point out-owned Punjab Nationwide Bank on Friday described a net financial gain of Rs 506 crore for the quarter finished December 31, 2020 (Q3FY21). Sequentially, the financial gain declined 18.five per cent. The financial institution had posted a financial gain of Rs 621 crore in the earlier quarter (Q2FY21), and a standalone decline of Rs 492.28 crore during the corresponding period final calendar year (Q3FY20).
The Delhi-primarily based lender’s net desire profits — the variance among desire earned by means of lending and desire paid to depositors — grew 90 per cent calendar year-on-calendar year to Rs 8,313 crore for the period beneath assessment. It had been Rs four,355 crore during the exact period a calendar year earlier (Q3FY20). The NII had been Rs 8,393 crore during the September quarter.
The bank’s gross non-accomplishing assets (NPAs) reduced to 12.ninety nine per cent for the December quarter of this monetary calendar year, in comparison with thirteen.forty three per cent in the earlier quarter. In the meantime, its net non-accomplishing assets (NPAs) stood at four.03 per cent
The complete profits of the financial institution arrived in at Rs 23,298 crore during the quarter, towards Rs 15,967 crore in the exact period a calendar year earlier. Its complete expenses in Q3FY21, meanwhile, stood at Rs 16,907 crore.
Expensive Reader,
Enterprise Standard has usually strived tricky to provide up-to-date info and commentary on developments that are of desire to you and have broader political and economic implications for the nation and the environment. Your encouragement and constant comments on how to enhance our providing have only built our take care of and determination to these ideals much better. Even during these tricky occasions arising out of Covid-19, we proceed to continue to be committed to maintaining you informed and up to date with credible news, authoritative views and incisive commentary on topical troubles of relevance.
We, even so, have a ask for.
As we fight the economic effects of the pandemic, we want your aid even much more, so that we can proceed to offer you you much more quality content material. Our membership design has observed an encouraging reaction from many of you, who have subscribed to our on the web content material. Extra membership to our on the web content material can only help us achieve the plans of providing you even far better and much more related content material. We think in totally free, truthful and credible journalism. Your aid by means of much more subscriptions can help us practise the journalism to which we are committed.
Assistance quality journalism and subscribe to Enterprise Standard.
Digital Editor
