u201c..the Exchange is hereby informed that a meeting of the Board of Directors of the Bank is scheduled on Wednesday, 29 March 2023 for inter alia considering the proposal for raising of capital for FY 2023-24 through the issuance of Basel-Ill compliant Additional Tier-1 Bonds and Tier-II Bonds, in one or more tranches, PNB said in an exchange filing. AT1 bonds are a type of unsecured, perpetual bonds that banks issue to improve their core capital base.
    The lender reported a 44% decline in standalone net profit at 629 crore in the third quarter ended December 2022 (Q3 FY23) due to higher provisions for bad loans. The state-owned bank had earned a net profit of 1,127 crores in the year-ago period. The provisions for bad loans increased to 3,908 crores during the quarter as against 3,654 crores a year ago.
    Source:- Business Standard
    During the quarter, the net interest income (NII) grew by 17.6% to 9,179 crores while operating profit increased by 12.6% to 5,716 crores on a YoY basis. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 9.76% as compared to 12.88% at the end of the third quarter of the previous fiscal.
    PNB shares have surged more than 31% in a year’s period, however, the bank stock has declined over 18% in 2023 so far (year-to-date or YTD) as compared to a 5% fall in the benchmark BSE Sensex during the said period. 
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