Punjab National Bank employees also will get25 days extra salary as a PLI

PNB posted profit of Rs. 586 crore

Punjab National Bank (PNB) on Friday reported standalone net profit of Rs. 586 crore for the March quarter. Last year, PNB posted a standalone loss of Rs. 697 crore. On a sequential basis, the net profit increased to 16 per cent. Thus. PNB staff will get 15 days extra salary.

 Net interest income increased 48.3 per cent to Rs. 6,938 crore. The bank’s gross non-performing assets (NPAs) increased to 14.12 per cent in the March quarter. Meanwhile, its net non-performing assets (NPAs) were 5.73 per cent.

The total income of the bank during the quarter was Rs. 22,531 crore. The bank made Rs. 5,293 crore provisions for NPAs. As of March 31, 2021, the Capital Adequacy Ratio (CAR) was 14.32 per cent.

Deposits at the end of March quarter were Rs. 11 trillion. Last year, it was Rs. 7 trillion.