Punjab National Bank declares Quarterly Results(Q3) FY’17

  Punjab National Bank declares Quarterly Results(Q3) FY’17

Smt. Usha Ananthasubramanian, Managing Director & CEO of Punjab National Bank declared Quarterly Results of the Bank alongwith Sh. K.V. Brahmaji Rao, Dr. Ram S. Sangapure and Sh. Sanjiv Sharan Executive Directors of the Bank, for the third quarter of FY’17.Punjab National Bank Gross NPA has reduced from Rs.55818 Crore in Mar’16 to Rs.55628 Crore in Dec’16.  The Net NPA of the Bank which was Rs.35423 Crore as on Mar’16 has also come down to Rs.34994 Crore on account of continued pace of Recovery. Reduction in slippages in NPA has also translated into the Bank showing higher quarterly Operating Profit of Rs.3155 Crore as compared to Rs.2918 Crore in the corresponding period last year.

Net Profit of the Bank is higher as compared to Q3 FY16 yet the same has declined sequentially due to the Bank’s endeavour to make higher provisions for stressed assets after Asset Quality Review (AQR). Net Profit increased by 306% from Rs.51 crore in Dec’15 to Rs.207 Crore in Dec’ 16. Bank’s Provision Coverage Ratio (PCR) increased from 51.06% in Mar’16 to 54.96% in Dec’16.

Bank has strong presence in Indo-Gangetic plain and spread in Rural & Semi-Urban areas and this network has helped the Bank in reaping benefits of Demonetization.

The Bank’s Business crossed a historical landmark of Rs.10 lakh Crore with 47% share of CASA in Domestic Deposit.

Photo Caption:

Smt. Usha Anathasubramanian, Managing Director & CEO of Punjab National Bank declaring Quarterly Results of the Bank along with Sh. K.V. Brahmaji Rao, Dr. Ram S. Sangapure and Sh. Sanjiv Sharan Executive Directors of the Bank, for Third quarter of FY’17 in New Delhi