Categories: Business

Punjab National Bank posts Rs 586 crore profit in Q4

NEW DELHI: State-owned Punjab National Bank (PNB) on Friday published a standalone gain of Rs 586.33 crore for its fourth quarter ended March, helped by great growth in interest earnings.
The 2nd biggest public business creditor had reported a reduction of Rs 697.20 crore at January-March span of 2019-20.
The bank’s total income during the March quarter climbed to Rs 22,531.73 crore from Rs 16,388.32 crore at the year-ago period.
Interest earned during the quarter climbed by 36 percent to Rs 18,789.53 crore from Rs 13,858.98 crore before, PNB stated in a regulatory filing.
Throughout the year, the bank brought an operating profit of Rs 5,634.31 crore as against Rs 3,932.28 crore.
The financial amounts aren’t strictly comparable as Asian Bank of Commerce and United Bank of India were merged in to PNB powerful April 1, 2020, it included.
On the advantage quality , PNB saw marginal advancement since the gross profits assets (NPAs) were introduced to 14.12 percent of gross progress at the end of March 2021, by 14.21 percent in March 2020.
Web NPAs also dipped into 5.73 percent according to 5.78 percent at the year-ago period.
In total value provisions, gross NPAs stood at Rs 1,04,423.42 crore in the end of 2020-21, greater compared to 73,478.76 crore reported in the last fiscal.
Web NPAs were valued at Rs 38,575.70 crore as against Rs 27,218.89 crore.
Consequently, the provisioning for bad loans during the March quarter climbed to Rs 5,293.89 crore compared to Rs 4,618.27 crore.
But, provision besides taxation and contingencies dropped to Rs 4,686.04 crore from Rs 4,901.31 crore.
For the complete financial 2020-21, the creditor’s profit jumped six-fold to Rs 2,021.62 crore, as against Rs 363.34 crore throughout 2019-20.
Total earnings during the financial climbed to Rs 93,561.62 crore as against Rs 64,306.13 crore at FY20.
Throughout 2020-21, the lender issued 106.70 crore stocks having face value of Rs 2 per cent for money to qualified eligible buyers flocked to the Qualified Institutional Placement (QIP) in a premium of Rs 33.50 per share, aggregating Rs 3,788.04 crore.
“This has led to a rise of Rs 213.41 crore from the issued and paid up equity share capital and Rs 3,563.91 crore (Internet of Issue Expenses) in share premium account,” it stated.
Throughout the year and quarter ended March 31, 2021, PNB issued Basel III compliant extra tier-I bonds of Rs 495 crore through private pensions.
The supply coverage ratio on March 31, 2021 climbed to 80.14 percent compared to 77.79 percent before.

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