On Friday, Punjab National Bank posted its net growth from March, 2023 against previous year.
According to the bank’s detail, by the end of March 2023 the bank’s profit has increased to Rs. 1,864 crore against Rs 338.29 crore in the corresponding period the previous year.
Detailing, the lender’s revenues went up 31.76 per cent to Rs 28,132.23 crore for the quarter under review, against Rs 21,350.59 crore. Assets and liabilities grew 11.52 per cent to Rs 14,93,648.94 crore in the March quarter, against Rs 13,39,301.13 crore in the year-ago period.
Atul Kumar Goel, Managing Director and Chief Executive Officer, PNB, said, “Our recovery has increased and our NPA has decreased. We had recovered Rs 29,000 crore and for the next year, our target is to recover Rs 22,000 crore. Out of Rs 22,000 crore, we expect a recovery of Rs 533 crore from NCLT (National Company Law Tribunal) (bad loans recovery) and the remaining will come from small accounts.”
