Financial Daily from THE HINDU group of publications
Thursday, Jun 17, 2004
Financial Daily from THE HINDU group of publications Thursday, Jun 17, 2004 |
||
|
|
||
|
Money & Banking
-
Financial Performance Corporate Results - Public Sector Banks PNB net up 31 pc at Rs 1,109 cr Our Bureau
New Delhi , June 16 PUNJAB National Bank (PNB) recorded a net profit of Rs 1,109 crore for the financial year ended March 31, 2004 compared to Rs 842 crore recorded the previous year, a growth of 31.6 per cent Operating profit touched Rs 3,121 crore against Rs 2,317 crore, a growth of 34.7 per cent. Reserves and surpluses increased to Rs 4,746 crore. The bank made a provision of Rs 2,012 crore towards income tax, wealth tax, NPAs as compared to Rs 1,475 crore allocated in the previous year. The PNB Group, which includes Punjab National Bank (PNB) and its subsidiaries, registered a net profit of Rs 1,198 crore for 2003-04 compared to Rs 940 crore recorded the previous year, a jump of 27.44 per cent. The group's operating profit rose by 32.23 per cent to touch Rs 3,288 crore. During the year, additional provisions of Rs 793 crore were made, which is double the amount taking the total provisions for 2003-04 to Rs 2,091 crore. The reserves and surpluses increased to Rs 5,191 crore compared to Rs 4,128 crore, a growth of 25.75 per cent. The capital adequacy ratio is expected to be around 14 per cent, higher than last year's 13.08 per cent. According to Mr Arun Kaul, General Manager-Finance, PNB, the treasury trading profit accounted for around 30 per cent of the operating profit. Also after the merger of PNB Capital Services with the parent bank, the number of subsidiaries of the bank was reduced to three, all the subsidiaries were profitable during the last fiscal, he added.
More Stories on : Financial Performance | Public Sector Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|