The banking sector, a cornerstone of the financial industry, plays a pivotal role in facilitating economic transactions, managing funds, and providing financial services. Comprising commercial, investment, and central banks, it serves as a vital catalyst for economic growth, monetary stability, and wealth management in national and global economies.
Non-Performing Assets (NPAs) are financial assets held by banks and financial institutions that cease to generate income for the lender. When borrowers fail to meet their repayment obligations for a specified period, these assets are classified as NPAs, indicating potential financial distress and impacting the institution’s balance sheet.
Here are the banking stocks in which NPA decreased up to 67 percent:
Punjab National Bank
Punjab National Bank (the Bank) is an Indian bank. The Bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. The bank’s product areas include personal, corporate, international, and capital services.
With a market capitalization of Rs 1.39 lakh crore, the shares were trading at Rs 127.05 per share, decreased around 0.97 percent as compared to the previous closing price.
The company’s non-performing assets decreased by 66 percent from Rs 26,363 crore in Q3FY23 to Rs 8,815 crore in Q3FY24. The company’s revenue stood at Rs 27,852 crore in Q3FY24, in the same period net profit stood at Rs 2,441 crore.
Indian overseas bank
Indian Overseas Bank segments include Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. The Bank’s operations include domestic deposits, domestic advances, foreign currency transactions, and many more.
With a market capitalization of Rs 1.26 lakh crore, the shares were trading at Rs 66.94 per
share, decreased around 2.33 percent as compared to the previous closing price. The company’s non-performing assets decreased by 67 percent from Rs 4,000 crore in Q3FY23 to Rs 1,302 crore in Q3FY24. The company’s revenue stood at Rs 6,176 crore in Q3FY24, in the same period net profit stood at Rs 723 crore.
Jammu and Kashmir Bank Ltd
Jammu and Kashmir Bank Limited (the Bank) provides banking and financial services. Retail, Corporate, and Treasury are its three business segments. The bank provides a variety of goods and services, including loans, personal accounts, term deposits, insurance, cards, business accounts, and agricultural loans.
With a market capitalization of Rs 15,278.91 crore, the shares were trading at Rs 138.75 per share, decreasing around 0.43 percent as compared to the previous closing price.
The company’s non-performing assets decreased by 54 percent from Rs 1,613 crore in Q3FY23 to Rs 740 crore in Q3FY24. The company’s revenue stood at Rs 2,881 crore in Q3FY24, in the same period net profit stood at Rs 423 crore.
Written by:- Abhishek Singh
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