PNB Q2 Net Profit grows by 17.4 per cent to Rs. 927 Crore
merisarkar news service
New Delhi, October 30, 2009
Leading public sector bank PNB has showed a net profit of Rs. 927 crore in the second quarter of the financial year it registered a growth of 17.4 percent in comparison with the same period last year. During the same period Net Profit of the bank was Rs. 707 Crores.
The Banks operating profit registered a 17.4 per cent growth on year on year basis and stands at Rs. 1,606 crore. For the same period last year it was Rs. 1,368 crores.
PNB's Net profit for the first two quarters stands at Rs. 3,176 crore. It registered a growth of 35.1 per cent in comparison with the same period last year.
The Bank's Net Interest income grew by 16.3 per cent during the second quarter and stands at healthy Rs. 5,407 crores. For the first two quarter of this financial year Net Interest Income stands at Rs. 10,615 crores – a growth of 20.8 per cent on year on year basis.
However, the bank did not fare well on account of Non Interest Income and it only registered a meager growth of 0.88 per cent. It stands Rs. 669 crores.
Total business of the bank stood at Rs.394,382 (Three lakh Ninety Four thousand and Three Hundred and Thirty Two) crores a growth of 24.5% year on year basis.
Deposits of the bank went up to Rs. 230823 crore as on September 30, 2009 a growth of 23.9 per cent on YOY basis. Credit Deposit Ratio stood at 70.86% as at Sept’09.
Gross NPA to Gross Advances ratio of the bank further declined to 1.58% as at Sept’09 from 2.18% as at Sept’08 and 1.60% as at March 2009.
