Q4 2024 Punjab National Bank Earnings Call Transcript
Key Points
- Punjab National Bank (BOM:532461) reported a significant increase in net profit, rising from INR 1,159 crores in Q4 2022-23 to INR 3,010 crores in Q4 2023-24, marking a growth rate of 159.7%.
- The bank's net interest income (NII) saw a substantial year-over-year increase of 16.2%, reaching INR 40,083 crores for the financial year 2023-24.
- Gross Non-Performing Assets (GNPA) reduced from 6.82% in March 2023 to 5.73% in March 2024, indicating improved asset quality.
- The Provision Coverage Ratio (PCR) improved significantly from 86.90% in March 2023 to 95.39% in March 2024, showcasing better risk management.
- Capital adequacy ratio improved from 14.63% in December 2023 to 15.97% in March 2024, indicating a strong capital position.
- The cost of deposits increased from 4.54% in March 2023 to 5.06% in March 2024, reflecting higher funding costs.
- Net Interest Margin (NIM) declined slightly from 3.38% in March 2023 to 3.25% in March 2024, indicating pressure on interest income.
- Slippages in the agriculture sector increased, contributing to overall higher slippages in the quarter.
- The bank's Loan-to-Deposit Ratio (LDR) decreased from 73% in December 2023 to 71.79% in March 2024, indicating a slower pace of loan growth compared to deposit growth.
- Operating expenses increased due to higher AS-15 provisions, impacting overall profitability.
Good afternoon, ladies and gentlemen. I, Deepak Singh, DGM Strategic Management, welcome you to the Punjab National Bank's Earnings Conference call for the period ended 31st March 2024.
The bank is represented by the Managing Director and CEO, Shri Atul Kumar Goel sir; Executive Directors, Shri Kalyan Kumar, Shri Binod Kumar, Shri M Paramasivam and Shri Bibhu Prasad Mahapatra and other senior members of the top management. The structure of the concourse that include an operating statement by MD and CEO, sir, and then the floor will be open for interactions.
Before getting into the con call, I will read out visual disclaimer statement. I would like to submit that the statements given here in are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.
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