State-owned Punjab Nationwide Financial institution (PNB) on Wednesday reported a 66 per cent decline in standalone web revenue at Rs 202 crore for the quarter ended March 2022 because of greater quantity parked in direction of provisioning, even because the NPA ranges declined.

The financial institution had posted a web revenue of Rs 586 crore in the identical quarter a yr in the past.

Whole standalone revenue throughout the January-March quarter stood at Rs 21,095 crore, down from Rs 21,386 crore in the identical interval of 2021-21, PNB mentioned in a regulatory submitting.

For the complete fiscal 2021-22, standalone web revenue rose to Rs 3,456.96 crore as in opposition to Rs 2,021.62 crore in FY21, the financial institution mentioned.

The asset high quality of the city-headquartered lender confirmed enchancment, with the gross non-performing belongings (GNPAs) falling to 11.78 per cent of the gross advances as of March 2022, from 14.12 per cent a yr in the past.

Web NPAs or unhealthy loans too declined to 4.8 per cent from 5.73 per cent.

Nevertheless, the lender stored a better provision for unhealthy loans and contingencies for This fall FY22 at Rs 4,851.47 crore, as in opposition to Rs 3,540.32 crore earlier.

The board of administrators has really useful dividend of Re 0.64 per fairness share (i.e. 32 per cent) of face worth of Rs 2 every for 2021-22, topic to shareholders’ approval on the ensuing Annual Basic Assembly.

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