Financial Daily from THE HINDU group of publications
Saturday, Oct 30, 2004

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Corporate Results - Public Sector Banks

PNB net up at Rs 735 cr in H1

Our Bureau

NEW DELHI: PUNJAB National Bank (PNB) has registered a net profit of Rs 735.22 crore for the six-month period ended September 30, 2004, a 33.3 per cent growth over the corresponding period last year.

The total business of the bank stood at Rs 1,46,459 crore, a 21.7 per cent growth over the previous year's Rs 1,20,382 crore. Its capital and reserves increased to Rs 5,743 crore compared with Rs 4,579 crore, registering a growth of 26.4 per cent while the capital adequacy ratio stood at 12.58 per cent.

The net non-performing assets (NPAs) as a per cent to the net advances recorded a decline from 2.47 per cent to 0.30 per cent.

According to Mr S.S. Kohli, Chairman and Managing Director, the outstanding retail advances grew by 37 per cent to touch Rs 9,915 crore. The major focus of retail lending was on the housing and traders' finance segment. The housing loan segment grew by 37 per cent to touch Rs 4,185 crore while the education loans and traders' segment grew by 32 per cent and 29 per cent respectively.

As part of its expansion, PNB has recently opened a representative office in Shanghai, China, which will act as a single window for providing necessary guidance to the business community there as well as promote trade between the two countries.

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