New Delhi, Oct. 16 -- Punjab National Bank (PNB) reported a 12.8 per cent year-on-year rise in net profit in the September quarter of FY27, supported by higher interest income and improving asset quality, even as the bank said it sees no immediate need to raise deposit rates following the Reserve Bank of India's recent repo rate hike.

PNB's Managing Director and CEO Ashok Chandra, addressing a post-earnings press conference on Friday, said, "The bank recorded a net profit of Rs 5,532 crore in Q2, which is an all-time high, and it has grown at 12.8% year-on-year."

The bank's net interest income (NII) rose 10.8 per cent to Rs 11,601 crore from Rs 10,468 crore in the corresponding quarter last year. Operating profit increased 4.2 per cent ...