Public The profit of the region's Punjab National Bank (PNB) for the second quarter of the current financial year ended in September more than doubled to Rs 4,306 crore. This public sector bank had registered a net profit of Rs 1,756 crore in the same quarter of the last financial year. In the information sent to the stock exchanges, PNB said that during the quarter under review, its total income increased to Rs 34,447 crore, which was Rs 29,383 crore in the same quarter last year. The bank recorded interest income of Rs 29,875 crore during this period, which was Rs 26,355 crore in the same period a year ago.
Decline in NPA
The bank's gross non-performing assets (NPAs) improved to 4.48 per cent of total loans by the end of September 2024. This figure was 6.96 percent a year ago. Similarly, net NPA also declined from 1.47 percent at the end of the second quarter of the last financial year to 0.46 percent at the end of September 2024.
Indian Bank's profit increased by 36%
The profit of public sector Indian Bank for the second quarter of the current financial year ending September 2024 has increased by 36 percent to Rs 2,707 crore. The Chennai-based bank had reported a net profit of Rs 1,988 crore in the same quarter a year ago. Indian Bank told the stock market that its total income during the quarter under review increased to Rs 17,770 crore from Rs 15,736 crore in the same period last year. The bank recorded interest income of Rs 15,348 crore during the quarter under review, compared to Rs 13,743 crore in the same period a year ago.
NPA reduced here also
Net interest income (NII) rose eight per cent to Rs 6,194 crore from Rs 5,741 crore in the second quarter last year. The bank saw an improvement in gross non-performing assets (NPAs), which declined to 3.48 per cent of gross loans at the end of September 2024. A year ago this figure was 4.97 percent. Similarly, net NPA declined from 0.60 per cent at the end of the second quarter of the last financial year to 0.27 per cent at the end of September, 2024.
Image Credit: India_Tv.