Punjab National Bank Registers Rs 506 Crore Of Profits in Third Quarter

State-run Punjab National Bank (PNB) reported a net profit of Rs 506 crore during the third quarter (Q3) ended December 31, 2020.

The bank had reported a net loss of Rs 492.28 crore during the corresponding quarter of the previous fiscal.

However, the net profit declined on a sequential basis from Rs 621 crore reported for Q2FY21 to Rs 506 crore in Q3FY21.

The bank's net interest income grew 28 per cent to Rs 8,313 crore during the quarter under review on a year-on-year basis.

In terms of asset quality, the Gross Non Performing Assets (GNPA) declined to Rs 94,479 crore as in December 2020 from Rs 96,314 crore as in September 2020.

Similarly, the Net Non Performing Assets (NNPA) declined to Rs 26,598 crore as in December 2020 from Rs 30,920 crore as in September 2020.