PNB profit more than doubles in FY25; NPAs fall sharply

New delhi: The gross non-performing asset (GNPA) ratio of Punjab National Bank declined sharply to 3.95% for the quarter ended March 2025, from 5.73% recorded in the year-ago period, as per financial statements released by the public sector lender on Wednesday.

The net non-performing asset of the bank came down to 0.4% at the end of fiscal 2024-25 from 0.73% March 2024, while net profit more than doubled to Rs 16,630 crore in the fiscal ended March 2025.

For the January-March 2025 quarter, PNB posted a net profit of Rs 4,567 crore, 51.7% higher when compared with the same period of the last year. On a quarter-on-quarter basis, the company’s profit witnessed a marginal increase. In October-December 2024 quarter PNB posted a profit of Rs 4,508.21 crore.

The net interest income (NII) or the difference between interest earned and expended, rose to Rs 10,756.98 crore in the quarter ended March 2025, registering a year-on-year growth of 3.8%. However, on a quarter-on-quarter basis it was 2.55% lower.

Total retail credit increased by 16.5% year-on-year to Rs 2,59,363 crore as of March-end 2025.

There was a significant improvement in the bank’s asset quality in 2024-25. Its gross non-performing assets declined by Rs 12,261 crore to Rs 44,082 crore as on March 2025 from Rs 56,343 crore in the year-ago period. Net non-performing assets declined by Rs 2,508 crore to Rs 4,291 crore at the end of fiscal 2024-25 from Rs 6,799 crore recorded in March 2024.

The board of directors of PNB has recommended a dividend of Rs 2.90 per equity share for the financial year 2024-25.