A branch of Punjab National Bank (PNB). (Image for representaion)
Credit: Reuters File Photo
New Delhi: State-owned Punjab National Bank (PNB) on Friday posted more than twofold jump in net profit at Rs 4,508 crore for the third quarter ended December 2024.
The bank had earned a net profit of Rs 2,223 crore in the same quarter a year ago.
Total income increased to Rs 34,752 crore from Rs 29,962 crore in the same period a year ago, PNB said in a regulatory filing.
Interest income also rose to Rs 31,340 crore from Rs 27,288 crore.
On the asset quality front, the bank's gross non-performing assets ratio moderated to 4.09 per cent from 6.24 per cent a year ago.
Similarly, net NPAs, or bad loans, came down to 0.41 per cent from 0.96 per cent at the end of the third quarter last fiscal.
As a result, provisions for bad loans came down significantly to Rs 318 crore during the quarter from Rs 2,994 crore a year ago.