<p>New Delhi: State-owned Punjab National Bank (PNB) on Thursday posted a nearly three-fold increase in net profit to Rs 3,010 crore for the fourth quarter that ended March 2024, aided by improvement in core income and decline in bad loans.</p><p>The bank had earned a net profit of Rs 1,159 crore in the same quarter a year ago.</p><p>The total income increased to Rs 32,361 crore during the quarter under review, as against Rs 27,269 crore in the same period last year, PNB said in a regulatory filing.</p><p>Interest income grew to Rs 28,113 crore during the period under review, from Rs 23,849 crore in the corresponding quarter a year ago.</p><p>On the asset quality side, the bank's gross Non-Performing Assets (NPAs) moderated to 5.73 per cent of gross advances as of March 31, 2024, from 8.74 per cent at the end of March 2023.</p>.R Shankar Raman elevated as President of Larsen & Toubro.<p>Net NPAs also declined to 0.73 per cent of the advances, from 2.72 per cent at the end of 2023. As a result, provision for bad loans declined to Rs 1,958 crore, as against Rs 3,625 crore earmarked during the same quarter a year ago.</p><p>For the financial year ended March 2024, the bank's net profit increased over three-fold to Rs 8,245 crore, as compared to Rs 2,507 crore in the previous fiscal.</p><p>Capital Adequacy Ratio (CRAR) improved to 15.97 per cent, over 15.50 per cent on March 31, 2023. PTI DP DRR</p>
<p>New Delhi: State-owned Punjab National Bank (PNB) on Thursday posted a nearly three-fold increase in net profit to Rs 3,010 crore for the fourth quarter that ended March 2024, aided by improvement in core income and decline in bad loans.</p><p>The bank had earned a net profit of Rs 1,159 crore in the same quarter a year ago.</p><p>The total income increased to Rs 32,361 crore during the quarter under review, as against Rs 27,269 crore in the same period last year, PNB said in a regulatory filing.</p><p>Interest income grew to Rs 28,113 crore during the period under review, from Rs 23,849 crore in the corresponding quarter a year ago.</p><p>On the asset quality side, the bank's gross Non-Performing Assets (NPAs) moderated to 5.73 per cent of gross advances as of March 31, 2024, from 8.74 per cent at the end of March 2023.</p>.R Shankar Raman elevated as President of Larsen & Toubro.<p>Net NPAs also declined to 0.73 per cent of the advances, from 2.72 per cent at the end of 2023. As a result, provision for bad loans declined to Rs 1,958 crore, as against Rs 3,625 crore earmarked during the same quarter a year ago.</p><p>For the financial year ended March 2024, the bank's net profit increased over three-fold to Rs 8,245 crore, as compared to Rs 2,507 crore in the previous fiscal.</p><p>Capital Adequacy Ratio (CRAR) improved to 15.97 per cent, over 15.50 per cent on March 31, 2023. PTI DP DRR</p>