Legacy issues behind us, PNB charts new growth path to outdo competition: MD Ashok Chandra

Leaving legacy points behind, Punjab Nationwide Financial institution (PNB) has launched into a brand new progress path with a definite deal with working revenue to outdo competitors within the present fiscal and subsequent years, its managing director Ashok Chandra has mentioned. Discount in NPAs, low-cost deposit mobilisation, rising avenues for price earnings enhancement and restoration from unhealthy loans are different precedence areas of the financial institution, which have been exhibiting good enchancment in numerous parameters, together with internet revenue.

For the monetary yr ended March 2025, PNB has emerged as the highest financial institution by way of revenue progress amongst 12 public sector banks (PSBs) with a 102 per cent rise. The financial institution’s internet revenue doubled to Rs 16,630 crore in comparison with Rs 8,245 crore within the earlier fiscal.

The financial institution has reported a 14 per cent rise in complete enterprise at Rs 26.83 lakh crore in FY25, one of many highest within the banking system.

Declaring that the financial institution had a whole lot of legacy points, together with one of many highest gross and internet non-performing property (NPAs) numbers among the many public sector banks, Chandra mentioned they’ve been introduced down considerably, with gross NPA slipping beneath 4 per cent and internet sub at 0.5 per cent.

The financial institution has set an bold goal to convey them additional throughout the present monetary yr, he informed PTI in an interview. As a part of the expansion plan, he mentioned, “We’re going to put deal with the working revenue aspect. This can be a course which now we have given to your complete area group and the company group. Additionally, no matter enterprise we do, we must always do it with the clear intention of incomes revenue out of each exercise”. Given the deal with the RAM (retail, agriculture and MSME) sector, and present account and financial savings account (CASA), he mentioned the financial institution goes to witness enchancment in working revenue.

“We wish a financial institution like ours, which is the second largest by way of home enterprise, also needs to obtain that place by way of working revenue and internet revenue,” Chandra, who assumed cost of the PNB in January 2025, mentioned.

Sharing new initiatives to realize the target, he mentioned the financial institution has revamped its whole CASA merchandise final month and added a whole lot of engaging options.

“Now, now we have very specialised schemes for salaried and non-salaried individuals. There’s a particular scheme for girls, youth, senior residents, and pensioners. We’ve additionally come out with scheme for the defence personnel and farmers. All these schemes have been customised to fulfill their particular wants with a whole lot of engaging options,” he mentioned.

Chandra mentioned the financial institution has opened 2 lakh new financial savings accounts of salaried individuals within the final 3 months and mobilised extra deposits of Rs 300 crore from these accounts.

“We’ve set a goal of opening 10 lakh new financial savings accounts within the subsequent six months and garnering a minimum of Rs 2,000 crore deposits from such accounts,” he added.