PNB will raise loan rates by 5 bps throughout the mandates from December 1 | Popgen Tech

Effective after the announcement, overnight MCLR increased from 7.40% to 7.45%, one-month MCLR increased from 7.45% to 7.50%, three-month MCLR increased from 7.55% to 7.60%, MCLR of ‘ six months increased to 7.75%. % to 7.80%, 1-year MCLR rises from 8.05% to 8.10% and 3-year MCLR rises from 8.35% to 8.40%. Due to the Marginal Cost of Funds Based Lending Rate (MCLR) of 5 basis points, PNB customers who have taken loans will now pay higher EMIs. On new car loans, the 1-year MCLR+0.10% is currently 8.15%, and for old car loans the 1-year MCLR+1.10% is currently 9.15%.

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PNB’s net profit for Q2FY23 was ₹411 crore, an increase of 33.4% on a quarter-on-quarter basis, while the operating profit for the quarter was ₹5567 crore, up 38.5% YoY. Net interest income grew by 30.2% YoY to ₹8271 Crore in Q2 FY23 while global NIM rose by 61 bps to 3.00% from 2.39% in Q2 FY22. The bank reported a cost-to-income ratio for Q2 FY23 of 49.93%, an improvement of 834 bps on a year-on-year basis. In addition, retail credit rose by 16.95% on a year-on-year basis to ₹155409 Crore from Q2FY23. The bank’s CASA share is 44.91% of domestic deposits, while its GNPA ratio grew by 315 bps to 10.48% in Q2FY23 from 13.63% in the year-ago quarter.

As of 30 Sep’22, the bank has 10038 domestic branches, 3863 rural branches, 2445 semi-urban branches, 1998 urban branches & 1732 metro area branches. International branches were 2, while 12966 number of ATMs and 20447 BCs reported by the bank in Q2.