On December 26, 2024, Punjab National Bank’s share price traded 0.69% higher at ₹102.34 at noon. The stock opened at ₹101.70 and rose 1.6%, touching a day’s high of ₹103.29 during early trade. Since the start of this week, PNB’s stock has shown modest upward movement. On December 25, 2024, the stock remained flat with no change.
According to news reports, Mahindra Tractors, a division of Mahindra & Mahindra Ltd, has partnered with Punjab National Bank to provide channel financing solutions for its dealers. The collaboration has been formalised through a Memorandum of Understanding (MoU).
Under this partnership, Mahindra Tractors dealers with at least one year of business experience can avail the channel finance facility. The initiative offers a credit limit of up to ₹5 crore, based on 105 days of sales performance.
Dealers will receive a credit term of 105 days, plus an additional 15-day grace period, and will be eligible for 100% financing of their Mahindra & Mahindra invoices without the need for margin requirements, as per the report.
For the quarter ending September 30, 2024, Punjab National Bank reported a substantial 145% year-on-year increase in net profit, which surged to ₹4,303 crore from ₹1,756 crore in Q2 FY24.
The bank’s net interest income (NII) also saw a healthy rise of 5.99% on a year-on-year basis, reaching ₹10,517 crore, compared to ₹9,923 crore during the same period last year.
The bank’s asset quality showed significant improvement, with its gross non-performing asset (NPA) ratio decreasing by 248 basis points year-on-year to 4.48%, while the net NPA ratio improved by 101 basis points year-on-year to 0.46%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
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