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PNB net profit up by 2.61 percent

Raipur, Oct 9 (IANS) Punjab National Bank (PNB) has registered a net profit of Rs.3.67 billion ($80 million) in the first quarter of the current fiscal, up by 2.61 percent from Rs.3.58 billion in the corresponding period of the previous year.

Monday, October 9, 2006 | 9:40:22 PM IST (+05:30 GMT)
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Raipur, Oct 9 (IANS) Punjab National Bank (PNB) has registered a net profit of Rs.3.67 billion ($80 million) in the first quarter of the current fiscal, up by 2.61 percent from Rs.3.58 billion in the corresponding period of the previous year.

'Net interest income of the bank increased by 18.8 percent on a year-on-basis (YoY) to reach Rs.12.93 billion for the first quarter ended June 2006 as compared to Rs.10.88 billion in June 2005,' PNB chairman and managing director S.C. Gupta told reporters here the bank's board meeting here Monday.

The PNB board meet was held in Raipur for the first time since the bank was established.

Gupta said the total income increased to Rs.29.22 billion from Rs.25.43 billion in June 2005, registering a YoY growth of 14.9 percent.

The Q1 operating profit, however, was lower at Rs.4.90 billion, compared to Rs.64.45 billion during the corresponding quarter in the previous fiscal year registering a decline of 23.9 percent.

Copyright : Indo-Asian News Service
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