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Tuesday, Oct 29, 2002

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PNB first-half net at Rs 411 cr

Our Bureau

NEW DELHI, Oct. 28

PUNJAB National Bank (PNB) has registered a net profit of Rs 411.09 crore for the first half of the current financial year ending September 2002 compared to Rs 329.09 crore registered in the corresponding period last year.

The bank has made provisions of Rs 716.59 crore towards income tax, non-performing assets (NPAs), standard assets, investment and depreciation compared to Rs 478.80 crore last year.

Gross profits during the half-year ended September 2002 were Rs 1,127.68 crore compared to Rs 807.89 crore in the corresponding period last year.

Mr S.S. Kohli, Managing Director, that the total income increased from Rs 3,788 crore for the half-year ended September 2001 to Rs 4,357 crore in the six months ended September 2002.

Total expenditure increased from Rs 2,980 crore in the first half of the year ended September 2001 to Rs 3,230 crore. Deposits stood at Rs 66,680 crore while total credit stood at Rs 34,450 crore for the first half of the year.

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