Public sector lender Punjab & Sind Bank (PSB) has declared its Q3FY23 results today. The bank posted a net profit of Rs.373 Cr in Q3FY23 as against a net profit of Rs 301 Cr for Q3FY22, a growth of 23.92% YoY, while its operating profit grew by 8.18% (QoQ) and 3.61% (YoY) has increased.
The lender said that in Q3FY23, its gross non-performing assets (GNPA) ratio declined by 608 basis points (bps) YoY to 8.36% and its net non-performing assets (NNPA) ratio declined by 99 bps YoY to 2.02% . According to Punjab & Sind Bank, Return on Assets (RoA) rises to 1.11%, an increase of 13 bps (YoY) over Q3FY23, and Capital Adequacy Ratio (CRAR) at 15.57% with Common Equity Tier 1 (CET-1) Is. ) ratio of 12.79% at the end of December 2022.
The bank said that in Q3FY23, its Yield on Advances rose by 42 bps (YoY) to 8.11%, while Net Interest Income (NII) grew by 6.20% on YoY basis in Q3FY23. Punjab and Sind Bank (PSB) said its CASA deposits climbed 11.33% YoY and its percentage to total deposits climbed 67 basis points to 33.30% in Q3FY23. The lender said retail advances grew 32.31% to Rs. 14739 crores. And RAM (Retail, Agriculture and MSME) advances grew by 19.07% (YoY) in the quarter ended December 2022.
According to the bank, agriculture advances increased by 9.63% to Rs 11288 crore. and MSME advances grew by 14.92% to Rs.13929 cr. According to the lender, the credit-deposit (CD) ratio rose by 452 bps (YoY) to reach 71.00% in Q3FY23.
The bank said that its total business in the third quarter of FY2023 grew by 12.08% YoY to Rs. 187242 crore and its total deposits increased by 9.11% to Rs. 109497 crores. Gross Advances grew by 16.54% to Rs. 77745 Cr in Q3FY23 from Rs. 66710 crore in the corresponding quarter of the previous year.
According to the bank, by December 2022, it will have 18.42 lakh PMJDY accounts and CASA deposits totaling Rs. 539 crores. As of Q3FY23, the bank had 1528 branches, of which 572 were rural, 278 semi-urban, 356 urban and 322 metro, as well as 803 ATMs and 357 BCs.
catch all corporate news And updates on Live Mint. download mint news app to receive daily market update & stay business News,