- Net Income: Punjab National’s net income soared to 32.5 billion rupees in Q1 2024, substantially higher than the previous year’s 12.6 billion rupees and beating the estimate of 29.55 billion rupees.
- Non-Performing Assets: Gross non-performing assets improved to 4.98%, down from 5.73% in the previous quarter and ahead of the estimated 5.31%.
- Provisions: The total provisions were 13.1 billion rupees, marking an 18% decrease quarter-over-quarter.
- Loan Loss Provisions: Provision for loan losses was significantly reduced by 60% compared to the previous quarter, standing at 7.9 billion rupees.
- Interest Income: Interest income rose by 14% year-over-year to reach 285.6 billion rupees, slightly above the estimate of 285.2 billion rupees.
- Interest Expense: Interest expenses increased by 16% year-over-year to 180.8 billion rupees, exceeding the estimate of 179.5 billion rupees.
- Operating Profit: Operating profit saw a 10% year-over-year rise, totaling 65.8 billion rupees, though slightly below the estimated 66.05 billion rupees.
- Other Income: Other income amounted to 36.1 billion rupees, up by 5.2% year-over-year, outperforming the estimate of 33.43 billion rupees.
- Analyst Ratings: Current analyst ratings include 5 buys, 5 holds, and 8 sells.
A look at Punjab National Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores for Punjab National Bank, the outlook for the company appears positive in the long term. With high scores in Value and Dividend, investors may find Punjab National Bank to be a promising investment option. A solid score in Growth also suggests potential for the company to expand and increase its market presence over time. However, lower scores in Resilience and Momentum indicate areas where the company may face challenges that could impact its performance.
Punjab National Bank, a leading provider of financial services offering a wide range of banking solutions including corporate, personal, industrial, agricultural, trade financing, and international banking. The Company caters to a diverse client base ranging from domestic conglomerates to small industrial units, exporters, non-resident Indians, and multinational corporations. With strong Value and Dividend scores, Punjab National Bank showcases stability and profitability, yet its lower scores in Resilience and Momentum suggest potential vulnerabilities and slower market momentum that investors should consider when evaluating the company’s long-term prospects.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
