ECONOMY

Punjab National Bank Q1 – Recovery In Operating Performance; Asset Quality Remains Watchful: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Punjab National Bank reported a healthy performance, supported by a pick-up in net interest income and lower opex, even as provisions stood stable sequentially.

Business growth remains under pressure, with a sequential decline in loans/deposits.

However, Punjab National Bank’s margin witnessed ~5 basis point QoQ improvement to 2.73%.

Slippages stood elevated (~6.2% annualised), led by the retail, agriculture, micro, small and medium enterprise segment.

However, higher recoveries and upgradations limited the decline in asset quality ratios.

Total restructured book stands ~2.02% of loans, while total special mention account- I and II stands elevated at 3.9%.

Click on the attachment to read the full report:

Motilal Oswal PNB Q1FY22 Result Update.pdf

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