Punjab National Bank, the country’s second-largest bank, has reported a 62.38 per cent rise in net profit at Rs 832.04 crore for the first quarter ended June 2009 as against Rs 512.40 crore in the corresponding quarter of the previous year. The lender’s bottom line improved thanks to the increase in interest and fee-based income.
Total income for the June 2009 quarter increased to Rs 6,177.59 crore from Rs 4,594.62 crore, while the net interest income rose 28.87 per cent to Rs 1,861.81 crore as against Rs 1444.75 crore year-on-year.
Non-interest income more than doubled to Rs 970.16 crore from Rs 456.13 crore a year ago. Of this, fee-based income was Rs 458.87 crore and profit on sale of investment was Rs 358.47 crore in April-June 2009.
The New Delhi-based public sector bank has posted a 26.51 per cent growth in deposits to Rs 2,18,959.71 crore at end of June 2009 from Rs 1,73,073.80 crore in June 2008. Its advances were up 38.06 per cent to Rs 1,57,979.40 crore from Rs 1,14,429.98 crore a year ago.
The gross non-performing assets (NPAs) declined to 1.80 per cent from 2.82 per cent a year ago. The capital to risk asset ratio (CRAR) as per Basel-II stood at 14.45 per cent, as against 12.96 per cent in June 2008.
IOB net rises 18% to Rs 302 crore
Indian Overseas Bank (IOB) has reported a 17.90 per cent increase in net profit for the quarter ended June 30, 2009, at Rs 301.78 crore as against Rs 255.97 crore, during the same quarter a year ago.
Total income rose to Rs 2,808.51 crore from Rs 2,186.83 crore, an increase of 28.43 per cent. Interest income registered a 19.32 per cent rise at Rs 2,577.85 crore compared with Rs 2,160.54 crore.
The bank’s capital adequacy ratio as on June 30, 2009 rose to 13.24 per cent, under Basel-II from 11.25 per cent and Basel-I rose to 13.5 per cent from 11.41 per cent.
Gross NPAs increased to Rs 2,337 crore, while net NPAs rose to Rs 1,202 crore. The increase in NPA was due to the distressed assets amounting to Rs 310.74 crore taken over by the bank from Shree Suvarna Sahakari Bank, Pune, which was under moratorium.
| REPORT CARD Performance for quarter ended June in Rs crore | ||||||
| PNB | Corp Bank | IOB | ||||
| 2009 | % chg | 2009 | % chg | 2009 | % chg | |
| Interest earned | 5207 | 25.8 | 1742 | 35.2 | 2578 | 19.3 |
| Other income | 970 | 112.7 | 359 | 128.1 | 231 | 777.1 |
| Total income | 6178 | 34.5 | 2102 | 45.3 | 2809 | 28.4 |
| Interest expended | 3346 | 24.2 | 1275 | 40.0 | 1809 | 21.4 |
| Operating expenses | 1263 | 37.5 | 256 | 19.1 | 570 | 25.5 |
| Net profit | 832 | 62.4 | 261 | 41.8 | 302 | 17.9 |
| Note: Y-o-Y growth | ||||||
Corporation Bank net up 41.7 % in Q1
Mangalore-based Corporation Bank today reported a 41.75 per cent rise in net profit at Rs 261.25 crore for the first quarter ended June 30, 2009, compared to the corresponding quarter last year.
Its operating profit for the quarter increased 77.96 per cent y-o-y to Rs 571.24 crore.
The bank’s total income for the quarter increased by 45.31 per cent to Rs 2,101.53 crore.
The rise in net profit was driven by a 23.6 per cent growth in net interest income at Rs 467.54 crore as at June 2009 compared to the same period a year ago. Its non interest income increased 2.2 times to Rs 359.32 crore in the first quarter.
Total business stood at Rs 119,505 crore, rising 27.55 per cent. Deposits increased by 31.76 per cent to Rs 72,127 crore, while advances have shown a rise of 21.6 per cent to Rs 47,378 crore.
Gross NPAs has come down from 1.46 per cent in June 2008 to 1.29 per cent in June 2009. Net NPAs declined to 0.32 per cent as compared to 0.36 per cent in the corresponding period the previous year.
Bank of Rajasthan net dips 44% to Rs 17 cr
Bank of Rajasthan has posted a 44.79 per cent drop in its net profit at Rs 17.07 crore for the first quarter ended June 2009 compared with Rs 30.92 crore in April-June 2008 due to a fall in net interest income.
Total income recorded for the reporting quarter rose 11.07 per cent to Rs 379.20 crore compared with Rs 341.40 crore in June 2008. The NII declined to 72.2 crore from 86 crore a year ago.
Advances recorded a marginal growth of 8.57 per cent to Rs 22,800 crore, while deposits rose 11.68 per cent to Rs 15,082 crore.
The gross NPAs rose to 2.13 per cent from 1.65 per cent a year ago.
