After the results of the bank, experts are assuming that the shares of PNB may see a rise on Monday. Earlier, the country’s three big banks SBI, HDFC and ICICI have also made strong profits.
The country’s second largest public sector bank Punjab National Bank (PNB) has made a profit of Rs 586.33 crore in the fourth quarter of the financial year 2020-21. The profit of the bank has increased due to good growth in interest income. The bank has given this information under the regulatory information. It has said that it had a loss of Rs 697.20 crore in the same quarter a year ago.
In the January-March 2021 quarter of the financial year, the total income of the bank increased to Rs 22,531.73 crore from Rs 16,388.32 crore in the corresponding period a year ago. During this period, the interest income of the bank increased by 36 percent to Rs 18,789.53 crore.
Improvement shown on these fronts too
According to PAB data, it was Rs 13,858.98 crore in the same period a year ago. The bank posted operating profit of Rs 5,634.31 crore during the quarter. A year ago it was Rs 3,932.28 crore. The bank says its financial results are not comparable with last year’s figures. Because from April 1, 2020, Oriental Bank of Commerce and United Bank of India merged with it. On the asset quality front, PNB has registered some improvement.
NPAs decreased by 14.12 per cent
Its Gross Non-Performing Assets (NPA) declined to 14.12 per cent at the end of March 2021 from 14.21 per cent at the end of March 2020. If we talk about Net NPA, then it has increased to Rs 38,575.70 crore from Rs 27,218.89 crore in the same period a year ago. According to the bank, it is expected that due to the merger, the scope for further improvement is being seen in the coming days. At the same time, after the results of the bank, experts are assuming that the shares of PNB may see a rise on Monday. Earlier, during the March quarter, the country’s three big banks SBI, HDFC and ICICI have also made strong profits. Although there is a decline in the key figures called indicators of the economy, but the profits of banks are increasing. Now it remains to be seen how much boost the economy can get from this.
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