PNB's Ashok Chandra sees 11-12% credit growth in FY26
On Tuesday, the bank posted a 48% decline in standalone net profit at ₹1,675 crore for the quarter, on account of higher tax expenses. The bank posted a net profit of ₹3,252 crore in year-ago period."We have adjusted the entire tax outgo with that minimum alternate tax, or MAT, which we had accumulated. Now, this year, if we are not migrating, then we are supposed to pay the actual tax at 35%, whereas for the new tax regime, it is around 25%," Chandra explained, noting a 10% saving will get reflected going forward.The bank's asset quality improved as gross non-performing assets (NPAs) declined to 3.78% of gross advances at end of the June quarter, from 4.98% a year ago.
Capital Raising Chandra noted that although the bank has approvals to raise ₹8,000 crore, the lender has a sufficient capital to risk assets ratio or CRAR, of 17.5%, and even the Common Equity Tier, or CET-1, is also more than 12.5%.
Sale in Subsidiaries
The PNB managing director noted that they will offload a 10% stake in Canara HSBC Life Insurance when the insurer lists itself on the bourses in the second or third quarter of this fiscal year. "Other than that, no immediate plans," he said.
On the Supreme Court order that scrapped JSW Steel's ₹19,700-crore acquisition of Bhushan Power and Steel (BPSL) four years ago, citing "gross violation" of the IBC, Chandra said the SC has agreed to take up the review petition.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
18 minutes ago
- Time of India
nishapoddar: Trump's 25% Tariffs: How Indian Consumers & Markets Are Getting Hit
Trump's 25% tariff on Indian exports kicks in on August 1. From iPhones to jewellery and fuel to pharma, who gets hit? What happens to the markets, rupee, and your monthly budget? Nisha Poddar breaks it down in this episode of Two Sharp with ET.
Time of India
3 hours ago
- Time of India
NYT Mini Crossword, July 31, 2025: Solve today's tricky puzzle with these hints and answers
For countless puzzle enthusiasts, the day isn't quite right until they complete the New York Times' daily suite of word games. While heavyweights like Wordle and Connections attract mainstream buzz, the NYT Mini Crossword continues to charm fans with its crisp, clever, and compact format. As part of the New York Times' expanding games catalogue, the Mini Crossword may be small in size, but it packs a significant intellectual punch. Updated each night at 10 p.m ET, this daily fixture has become an early-evening ritual for many. Thursday, July 31, 2025, brings another stimulating challenge for solvers, and for those seeking guidance without spoilers, hints and answers have now been compiled to aid your conquest. Explore courses from Top Institutes in Please select course: Select a Course Category Others MBA Operations Management Data Science healthcare Technology Product Management Data Science Project Management Leadership PGDM Healthcare Management others Cybersecurity Finance MCA Artificial Intelligence Degree Digital Marketing CXO Design Thinking Public Policy Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details What Is the NYT Mini Crossword? The Mini is a simplified version of the full New York Times Crossword puzzle. Designed for accessibility, it contains a 5x5 grid and offers a fast-paced mental warm-up to start the day. It is free to play, in contrast to the full-sized Crossword, which is reserved for subscribers. The appeal lies in its succinctness: five or so across and down clues, all solvable in under five minutes, or so one hopes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo NYT Mini Crossword Hints for July 31, 2025 To provide a nudge without revealing too much, here are the curated clues for each line of today's NYT Mini. These serve as soft leads for solvers stuck at key intersections. Across Clues Live Events 1 Across: Quick punches — Hint: Ends with "S" 5 Across: Animal with unique stripes, similar to human fingerprints — Hint: Ends with "A" 6 Across: The People's ___ (The Rock's signature wrestling move) — Hint: Starts with "E" 7 Across: Pumps the brakes, say — Hint: Starts with "S" 8 Across: Many "Bluey" viewers — Hint: Ends with "S" Down Clues 1 Down: Treat once advertised as "America's Most Famous Dessert" — Hint: Starts with "J" 2 Down: Head of a monastery — Hint: Ends with "T" 3 Down: Furrowed facial features — Hint: Ends with "S" 4 Down: Lumber mill tools — Hint: Starts with "S" 5 Down: Grated citrus peel — Hint: Starts with "Z" NYT Mini Crossword Answers for July 31, 2025 (Readers seeking to solve the puzzle independently should stop here.) Here are the confirmed NYT Mini Crossword Answers for Thursday, July 31, 2025, as per a report by Parade magazine: Across Answers 1 Across: JABS 5 Across: ZEBRA 6 Across: ELBOW 7 Across: SLOWS 8 Across: TOTS Down Answers 1 Down: JELLO 2 Down: ABBOT 3 Down: BROWS 4 Down: SAWS 5 Down: ZEST Mini Puzzle, Major Appeal Unlike its larger cousin, the Mini offers instant gratification with a modest mental stretch. Players who regularly engage with the NYT Mini Crossword report improvements in pattern recognition, vocabulary, and cognitive flexibility. The game's brevity has proven to be its strength, especially in today's time-strapped routines. NYT Mini Crossword: Fan-Favorite The Mini Crossword has steadily carved its own niche in the gaming landscape. With social media chatter increasing every evening post-release, the five-by-five grid has become a point of daily connection among online communities and friend groups. Though it doesn't grab headlines like Wordle's color-coded boxes or Connections' thematic clusters, the NYT Mini Crossword continues to foster mental dexterity in a loyal base that values smart simplicity. Whether you're a seasoned word sleuth or a curious first-time solver, the Mini Crossword remains a fixture worth exploring. With the NYT Mini Crossword Answers for July 31, 2025, now at your fingertips, there's never been a better time to jump in, test your vocabulary, and claim your daily win. FAQs What is the NYT Mini Crossword? The NYT Mini Crossword is a free, bite-sized version of the full crossword, featuring a 5x5 grid designed for quick, daily solving—usually in under five minutes. What were the clues and answers for the NYT Mini Crossword on July 31, 2025? Sample answers include JABS (Quick punches), ZEBRA (Striped animal), and JELLO (Famous dessert). The puzzle offers both across and down clues with simple yet clever wordplay.
&w=3840&q=100)
Business Standard
7 hours ago
- Business Standard
Punjab National Bank falls 4% on Q1 results; should you buy, sell or hold?
Punjab National Bank share price today: Shares of public lender Punjab National Bank (PNB) fell nearly 4 per cent on Thursday, on the NSE, after posting its June 2025 quarter (Q1FY26) results. The stock touched an intra-day low of ₹103.92. At 12 PM, PNB's share price was trading 2 per cent lower at ₹105.9 per share on the NSE. In comparison, NSE Nifty50 was down 0.23 per cent at 24,797 levels. The market capitalisation of the company stood at ₹1.21 trillion. CATCH STOCK MARKET LATEST UPDATES TODAY LIVE Punjab National Bank Q1 results Punjab National Bank on Wednesday reported a standalone net profit of ₹1,675 crore for the quarter that ended on June 30, 2025 (Q1FY26), down 48.5 per cent from ₹3,252 crore in the year-ago period. Sequentially, the profit fell 63.3 per cent from ₹4,567 crore. The public sector undertaking's (PSU) total income rose by 15.7 per cent to ₹37,232 crore from ₹32,166 crore in Q1FY25. Sequentially, the revenue saw a marginal increase of 1.4 per cent from ₹36,705. The gross non-performing asset (GNPA) ratio of the bank fell to 3.78 per cent as of June 2025, from 4.98 per cent in the year-ago period. Meanwhile, the net non-performing asset (NNPA) came down to 0.38 per cent as compared to 0.6 per cent in Q1 FY25. The bank opted for the new tax regime, incurring a one-time charge of ₹3,324 crore. Punjab National Bank Q1 results analysis: InCred According to analysts at InCred Equities, PNB's Q1FY26 beat on adjusted profit was due to strong non-core income and lower credit costs, while the core performance missed owing to higher taxes. Additionally, PNB has a few levers to offset margin compression over the next few years. The bank's balance sheet is strong and has optionality from non-core income pools, the brokerage said in a note. InCred has maintained an 'Add' rating on the stock. "We raise our target price to ₹120 (11 per cent upside), implying 0.85x target multiple. The stock appears attractive at 0.75x FY27F BV," it said. Motilal Oswal Financial Services (MOFSL) According to MOFSL, PNB's transition to the new tax regime will be beneficial from the second quarter onwards, with the effective tax rate moderating to 25 per cent. Net interest margins (NIMs) contracted 11 basis points Q-o-Q, though the bank expects improvement from the third quarter onwards. Analysts believe that PNB's business growth remained modest, with management guiding for 11-12 per cent growth for FY26. While asset quality improved sequentially, with slippages moderating, the SMA book increased to 0.15 per cent of domestic loans. The brokerage has maintained a 'Buy' on the stock with a target price of ₹130. About Punjab National Bank Punjab National Bank (PNB) is a state-owned commercial bank located in New Delhi. It was founded in 1895 in Lahore. PNB is one of the leading commercial banks in India. They offer banking products, and also operate credit card and debit card business, bullion business, life and non-life insurance business, and gold coins and asset management business. It offers a wide array of business banking services, including trade finance, loans, and digital banking solutions. Further, PNB Gilts is one of the major players in the Debt Market and is a primary dealer.
