PNB Q2 net profit rise 16% to RS 1075cr

By Ankit Kumar

Punjab National Bank today reported a 15.9 per cent growth in net profit to Rs 1,075 crore for the second quarter ended September 30, 2010.
It had net profit of Rs 927 crore in the year-ago period, PNB Chairman and Managing Director KR Kamath said here.
The bank's total income rose by 18.1 per cent from year-ago period to Rs 7,174 crore during July-August, 2010.

For the first half of the current fiscal, PNB's net profit grew 21.8 crore to Rs 2,143 crore, from Rs 1,759 crore in the same period last fiscal.
Total income grew by 14.6 per cent from year-earlier to Rs 14,037 crore for the April-September period of this year.
As of September 30, the net interest margin stood at 3.99 per cent, while gross non performing assets was at 1.91 per cent.
The total business of the bank rose to Rs 4,82,159 crore, from Rs 3,94,382 crore, in the second quarter of this fiscal -- registering a growth of 22.3%.