A loan or advance for which the principal or interest payment was past due for more than ninety days is considered a non-performing asset (NPA).
In the banking industry, non-performing assets (NPAs) cause lenders, or banks, to incur significant losses that reduce their profit margins. Because of the bad reputation that banks receive, some account holders may wish to take their money out of them.
Here are 3 bank stocks that lowered their non-performing Assets.
IDBI Bank Ltd
IDBI Bank operates as a monetary intermediary for discount houses, postal savings banks, commercial banks, and savings banks.
With a market capitalization of Rs 68,062.71 crore, IDBI Bank Ltd, On Friday, the company shares were trading at Rs 63.30 a share, a decrease of 3.49 percent from the previous close price.
According to the report, IDBI Bank’s NPA has decreased by 10 percent, from 730 crore in Q1 FY24 to 651 crore in Q2 FY24.
Examining the business’s financials, the company’s revenue increased 16.7 percent from Rs. 6,052.23 crores in Q2FY23 to Rs 7,063.66 crores in Q2FY24. During the same period, Net Profit increased by 81 percent from Rs 767.49 crores to Rs 1,393.24 crores.
Punjab National Bank
The third-largest PSU and the best place to go for all of your banking needs is Punjab National Bank! Numerous personal banking services are provided by PNB, such as credit cards and loans.
With a market capitalization of Rs 85,313.35 crore, Punjab National Bank, On Friday, the company shares were trading at Rs 77.48 a share, a decrease of 2.70 percent from the previous close price.
According to the report, Punjab National Bank NPA has decreased by 23 percent, from 17,129 crore in Q1 FY24 to 13,114 crore in Q2 FY24.
Examining the business’s financials, the company’s revenue increased 28 percent from Rs. 23,291.7 crores in Q2FY23 to Rs 29,857.05 crores in Q2FY24. During the same period, Net Profit increased by 335 percent from Rs 363.72 crores to Rs 1,764.54 crores.
Kotak Mahindra Bank Ltd
Kotak Mahindra Bank is a diversified financial services group providing a wide range of banking and financial services including Retail Banking, Treasury and Corporate Banking, Investment Banking, Stock Broking, Vehicle Finance, and Advisory services.
With a market capitalization of Rs 3,52,617.94 crore, Kotak Mahindra Bank Ltd, On Friday, the company shares were trading at Rs 1774.15 a share, an increase of 0.13 percent from the previous close price.
According to the report, Kotak Mahindra Bank NPA has decreased by 1.05 percent, from 1,579 crore in Q1 FY24 to 1,554 crore in Q2 FY24.
Examining the business’s financials, the company’s revenue increased 23.10 percent from Rs. 17,513.02 crores in Q2FY23 to Rs 21,559.52 crores in Q2FY24. During the same period, Net Profit increased by 23.5 percent from Rs 3,579.39 crores to Rs 4,422.86 crores.
Written By:- Abhishek Singh
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