PNB MD & CEO Atul Kumar Goel On Q4, FY23 Financial Performance

Punjab National Bank (PNB) posts a good set of numbers for Q4 FY23. MD & CEO Atul Kumar Goel discussed the results with Siddharth Zarabi, Managing Editor, BTTV. PNB reported a 450 per cent rise in the consolidated net profit at Rs 1,159 crore in the March 2023 quarter, which was Rs 338.29 crore for the year-ago period. The state-run lender had clocked a net profit of Rs 708.27 crore in the December 2023 quarter.

The PSU bank's net interest income (NII) for the reporting quarter came in at Rs 9,499 crore, 30 per cent higher, compared with Rs 7,304 crore in the corresponding quarter of last year. The board of Directors recommended a dividend of Rs 0.65 per equity share, 32.5 per cent of the face value of Rs 2 each for the financial year 2022-23. However, this is subject to approval from the shareholders of the lender at the upcoming annual general meeting (AGM) of the bank.