Punjab National Bank’s total income in Q2FY23 rose 8.2% to ₹ 23,001 crores. Consolidated Profit came at ₹ 441 crores showcasing a 63% fall YoY over the corresponding period.
In this quarter’s investor presentation, the reports suggested that the firm has observed a fall in profits due to an drastic increase in Provisions other than tax of upto 50.5%. This increase in provisions indicate that the Bank’s asset quality has detoriorated.