PNB

Punjab National Bank (PNB), a leading Indian public sector bank, provides corporate and personal banking services. It has 10,189 branches and 11,822 ATMs. PNB's standalone interest income grew 13.8% YoY to Rs. 31,989cr in Q4FY25, driven by a rise in interest earned from loans (+10.5% YoY), income from investments (+15.1% YoY), and bank funds (+45.3% YoY). Interest expenses, on the other hand, jumped 19.6% YoY to Rs. 21,232cr, due to higher deposit costs. Thus, net interest income rose 3.8% YoY to Rs. 10,757cr. Net interest margin (NIM) shrunk 29bps YoY to 2.81% in Q4FY25, due to a higher cost of deposit and a drop in yield on advances. Pre-provision profit rose 5.6% YoY to Rs. 6,776cr in Q4FY25, fueled by higher net interest income and non-interest income (+11.0% YoY). Cost to income ratio largely remained flat at 56.21% in Q4FY25 (56.09% in Q4FY24), due to higher costs associated with deposits. However, staff expenses to income declined to 37.44% from 38.53% in Q4FY24. Reported profit after tax jumped 54.7% YoY to Rs. 4,657cr due to a sharp 77.4% fall in provisions.