'Punjab National Bank conducted a conference call on 26 October 2023 to discuss its financial results for the quarter ended September 2023. Atul Kumar Goel, MD of the company addressed the call:
Highlights:
The bank has has recorded 11% growth in the business volume to reach Rs 22.61 lakh crore. The CASA deposits have increased 4%.
The loan book of the bank has increased 13% driven by 18% growth in the retail, agriculture and MSME (RAM) segment. The share of RAM segment has increased to 55.6% end September 2023 from 54.7% a quarter ago and 54.4% a year ago.
The bank has recorded strong 20% growth in the net interest income in Q2FY2024. The operating profit of the bank has increased 12%.
The bank has reduced grass NPA ratio to 6.96% and the net NPA ratio to 1.47%, while the provision coverage ratio is raised to 91.9% end September 2023. The bank aims to reduce NNPA below 1% by March 2024.
The net NPAs of the b...
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