PNB Q4 Results 2022: State-run bank's PAT down 65% at Rs 201.57 cr; announces Rs 0.64 dividend

PNB Q4 Results 2022: Punjab National Bank (PNB) reported a standalone net profit of Rs 201.57 cr for the quarter ended 31 March 2022. It was down by over 65 per cent Year-on-Year (YoY) versus Q4FY21 Profit After Tax (PAT) of Rs 586.33 cr, the state-run bank said in its filing to the exchanges.

For the financial year, the net profit reported was at Rs 3456.96 cr as against Rs 2021.62 cr.

The total standalone revenues for the Q4 quarter of FY22 stood at Rs 21095.17 cr versus Rs 21386.01 cr reported in FY21, the exchange filing said.    

Interest earned during the reporting quarter stood at Rs 18645.12 cr as against Rs 18808.81 cr reported during the corresponding period in FY21.

Total assets stood at Rs 1314805.01 cr for the reporting quarter as against Rs 1260632.62 cr reported in Q4 of FY21.

The asset quality of the city-headquartered lender showed improvement, with the gross non-performing assets (GNPAs) falling to 11.78 per cent of the gross advances as of March 2022, from 14.12 per cent a year ago.

Net NPAs or bad loans too declined to 4.8 per cent from 5.73 per cent.

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However, the lender kept a higher provision for bad loans and contingencies for Q4 FY22 at Rs 4,851.47 cr, as against Rs 3,540.32 cr earlier.

The board of directors has recommended dividend of Re 0.64 per equity share (i.E. 32 per cent) of face value of Rs 2 each for 2021-22, subject to shareholders' approval at the ensuing Annual General Meeting.

The results were announced after market hours. 

PNB shares ended at Rs 33.10 on the NSE, down by 0.6 per cent from the Tuesday closing price.

Inputs from PTI