PNB Quarterly Net Profit Rises 5.5 Percent

PNB Quarterly Net Profit Rises 5.5 Percent

Tuesday, 31 January 2012, 09:52 Hrs
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 Mumbai: State-owned Punjab National Bank reported a 5.5 percent increase in net profit at 1,150 crore for the quarter ended Dec 31 as against 1,089.77 crore during the like period of the previous financial year.

Total income stood at 10,435 crore up 30.82 percent during the quarter as compared to 7,976.35 crore in the year ago period, the company said in a regulatory filing.

Segment-wise, income from treasury operations grew 35.38 percent to 2,217 crore while income from corporate and wholesale banking grew 48.44 percent to 4,788.29 crore during the quarter.

The retail-banking segment reported earnings of 3,280.38 crore during the period, up 13.3 percent against 2,896 crore in the corresponding period of 2010-11.

The bank's gross non-performing assets increased to 2.42 percent from 2.03 percent in the quarter ended Dec 31, 2011.

The bank's net profit in the first nine months of the current fiscal showed a rise of 7 percent and stood at 3,460 crore from 3,232.6 crore during the like period of 2010-11.

At the Bombay Stock Exchange the shares of the company were 1.84 percent down to trade at 938.30.

Source: IANS
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