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Tuesday, Jul 30, 2002

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Corporate Results - Public Sector Banks

PNB net rises 20 per cent in first quarter

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NEW DELHI, July 29

PUNJAB National Bank (PNB) has recorded a net profit of Rs 202.15 crore for the first quarter ended June 30, 2002, a 19.9 per cent rise over the Rs 168.66 crore net profit during the corresponding period of the previous year.

The gross profit has risen to Rs 521.27 crore during the three months compared to Rs 394.08 crore in the corresponding period last year, a growth of 32.3 per cent.

Total income increased to Rs 2059 crore from Rs 1837 crore. Interest income rose by 12.2 per cent to Rs 1760 crore, while non-interest increased by 11.8 per cent to Rs 300 crore. Total expenditure increased to Rs 1,538 crore from Rs 1,443 crore, an increase of 6.6 per cent.

Aggregate deposits increased to Rs 63,987 crore compared to Rs 56,143 crore. Net credit stood at Rs 35,381 crore compared to Rs 28,904 crore.

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