New Delhi, May 7 || Government-owned Punjab National Bank (PNB) on Wednesday reported a net profit of Rs 4,567 crore for January-March quarter of financial year 2024-25, which represents a 51.7 per cent jump over the corresponding figure of Rs 3,010 crore for the same period of the previous financial year.
The PNB has announced a dividend of Rs 2.90 per equity share for the financial year 2024-2025.
The bank's net interest income, the difference between interest paid for deposits and interest earned on loans, for the fourth quarter rose 4 per cent to Rs 10,757 crore.
The PNB board has recommended a dividend of Rs 2.90 per equity share of face value of Rs 2 each for FY25. The dividend is subject to approval of the shareholders at the ensuing annual general meeting of the bank.
The public sector lender’s asset quality improved during the January-March quarter, with gross non-performing assets (NPAs) coming down to 3.95 per cent from 4.09 per cent in the previous quarter. The net non-performing assets declined marginally to 0.41 per cent during the fourth quarter from 0.4 per cent in the third quarter.