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PNB Shares Jump on Stellar June Quarter Results
21 Jul
Summary
- PNB's profit surged 214% to Rs 5,253 crore in the June 2026 quarter.
- Net interest income rose 2% year-on-year to Rs 10,798 crore.
- Asset quality improved with a drop in gross non-performing assets.
On Monday, Punjab National Bank (PNB) shares saw a notable increase following the announcement of strong financial performance for the June 2026 quarter. Investors were encouraged by a substantial rise in profit, effective cost management, and enhanced asset quality.
The bank's net profit for the quarter reached Rs 5,253 crore, marking an impressive 214% growth compared to Rs 1,675 crore in the same period last year. This also represented a slight increase of approximately 1% from the previous quarter.
Net interest income, a key indicator of profitability, grew by 2% year-on-year to Rs 10,798 crore. Concurrently, operating expenses decreased by 13% year-on-year, contributing to improved operational efficiency. The bank's asset quality also showed positive movement, with gross non-performing assets falling to 2.78% from 2.95% in the prior quarter.
This combination of increased profits, stable interest income, reduced expenses, and declining bad loans has bolstered investor confidence in PNB's future financial performance.
