Total income grew by 18.67% year on year (YoY) to Rs 32,361.04 crore in the quarter ended 31 March 2024.

Operating profit stood at Rs 6,415.68 crore during the quarter, registering a growth of 9.36% on YoY basis.

For Q4 FY24, net interest income (NII) was at Rs 10,363 crore, up 9.1% YoY while net interest margin (NIM) reduced to 3.25 % as on 31 March 2024 as compared to 3.38% as of 31 March 2023.

On asset quality front, the bank's gross non-performing assets (GNPA) stood at 56,343.05 crore as on 31 March 2024 as against Rs 77,327.67 crore as on 31 March 2023.

Gross NPA declined to 5.73% as of 31 March 2024 as against 8.74% as on 31 March 2023. Net NPA reduced to 0.73% as on 31 March 2024 as compared to 2.72% as on 31 March 2023.

Provision coverage ratio improved to 87.9% as on March 2024 as against 70.8% as on March 2023.

CRAR increased to 15.97% as on March’24 from 15.50% as on March’23, registering an improvement of 47 bps.

Return on assets (ROA) & return on equity (ROE) of the bank for the quarter improved to 0.77% and 16.48% respectively.

Domestic advances grew by 10.9% YoY to Rs 9,42,391 crore as on 31 March 2024 as against Rs 849766 crore as on 31 March 2023. Domestic deposits stood at Rs 13,33,365 crore as on 31 March 2024, up by 6.5% YoY.

As on 31 March 2024, CASA deposits rose 2.7% YoY to Rs 5,52,499 crore while CASA share declined to 41.44% as on 31 March 2024 as compared to 42.98% as on 31 March 2023.

Meanwhile, the company’s board recommended dividend of Rs 1.50 per equity share for FY 2023-24, subject to approval of the shareholders.

Punjab National Bank is engaged in Treasury Operations, Corporate/Wholesale Banking, Retail Banking, Digital Banking, Others.

The scrip declined 2.36% to settle at Rs 122.05 on the BSE.