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PNB Q4 results: Net profit declines 66% to Rs 201 cr, NII up 5%

PNB Q4 results: Net profit declines 66% to Rs 201 cr, NII up 5%

Moreover, the Board of Directors has recommended a dividend of Re.0.64 per equity share (32%) for the year ended March 31, 2022 subject to requisite approvals. 

Shares of PNB on Wednesday closed 0.60 per cent lower at Rs 33.10 apiece on BSE.  Shares of PNB on Wednesday closed 0.60 per cent lower at Rs 33.10 apiece on BSE. 

State-owned Punjab National Bank (PNB) on Wednesday reported 65.69 per cent decline in its standalone net profit at Rs 201 crore for the fourth quarter ended 31 March, 2022. The lender had reported a net profit of Rs 586 crore in the year-ago period. 

The bank's net interest income (NII), rose 5 per cent to Rs 7,304 crore in the quarter under review from Rs 6,957 crore in the same quarter last fiscal. 

Total income declined marginally to Rs 20,195 crore as against Rs 21,386 crore in Q4FY21.

The asset quality 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.

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

Moreover, the Board of Directors has recommended a dividend of 0.64 rupee per equity share (32 per cent) for the year ended March 31, 2022, subject to requisite approvals. 

Shares of PNB on Wednesday closed 0.60 per cent lower at Rs 33.10 apiece on BSE.