In a regulatory filing, the public sector bank said it closed the Q1FY24 with a total income of ₹ 28,579.27 crore (Q1FY23 ₹ 21,294.03 crore) and a net profit of ₹ 1,255.41 crore (₹ 308.44 crore).
As on June 30, the bank's gross non-performing assets (GNPA) stood at ₹ 70,899.34 crore (as on June 30, 2022 ₹ 90,167.10 crore) and the net NPA at ₹ 17,129.47 crore (₹ 31,744.31 crore).
During the period under review, the Punjab National Bank had raised ₹ 3,090 crore by issuing Basel III compliant Tier II bonds.
Further, during the same period, the bank has redeemed Basel III compliant Tier II Bonds of ₹ 500 Crore due to maturity.
The bank's deposit and advance portfolio stood at ₹ 12,97,905.21 crore and ₹ 8,63,731.70 crore, respectively.
Pending settlement of the bipartite agreement on wage revision (due from November 1, 2022), an adhoc amount of ₹ 283.84 crore has been provided during the quarter ended June 30, 2023 towards wage revision.
The aggregate provision held by the bank in this regard is ₹ 743.35 crore as on June 30, 2023.
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