PNB net up 2% to Rs 422 cr

BS 200 SCORECARD

Punjab National Bank has reported a 2.3 per cent increase in net profit to Rs 422.04 crore during the second quarter of the current financial year, as against Rs 412.55 crore during July-September 2004. Total income dropped 0.6 per cent to Rs 2,682 crore as against Rs 2,698 crore last year.

The PNB board, which met on Saturday, declared an interim dividend of 30 per cent on equity shares with a face value of Rs 10 each. Net profit for the half year ended September 2005 grew by 6.1 per cent to Rs 780.20 crore, compared with Rs 735.22 crore in the corresponding period last year.

While net interest income during Q2 grew 22.8 per cent to Rs 1,191 crore, compared with Rs 970 crore in July-September 2004, interest income grew by 12.96 per cent to Rs 2,370 crore as against Rs 2,098 crore. Total income for the half year increased marginally by 0.6 per cent to Rs 5,226 crore from Rs 5,193 crore.

Last year, PNB's total income had included Rs 387 crore, which was transferred from inter branch transactions blocked account. If this amount is excluded, the total income of the bank shows a growth of 8.7 per cent.

PNB's capital to risk asset ratio (CRAR) stood at 14.20 per cent compared with 12.58 per cent at the end of September 2004. Advances showed a growth of 23.1 per cent and stood at Rs 63,868 crore as compared with Rs 51,871 crore in the corresponding period last year.

Its outstanding retail advances grew by 35 per cent to touch Rs 13,335 crore at September 2005 end as compared with Rs 9,915 crore at the end of September 2004. Net NPAs stood at 0.32 per cent at the end of September 2005.

Deposits registered a growth of 15.7 per cent to reach Rs 1,09,414 croreas compared with Rs 94,589 crore. Interest income grew by 12.5 per cent to Rs 4,660 crore from Rs 4,143 crore, while interest expenses increased by 6.4 per cent to Rs 2,381 crore compared with Rs 2,238 crore in the quarter ended September 2004.