PNB Q2 Net up 31% at Rs 927 cr
New Delhi: The country`s second largest public sector lender, Punjab National Bank, Thursday reported a 31.1 per cent growth in net profit at Rs 927 crore for the second quarter ended September 30, 2009.
Total income of the state-run lender rose to Rs 6,075.86 crore during the July-September quarter, from Rs 5,313.18 crore in the year-ago period, PNB said in a statement.
Interest income rose to Rs 5,407 crore, an increase of 16 per cent over the corresponding quarter in the last fiscal.
The capital adequacy ratio surged to 14.74 per cent at the end of September 30, the newly appointed Chairman and Managing Director of PNB KR Kamath told reporters here.
However, the net interest margin declined to 3.64 per cent against 3.78 per cent in the preceding quarter.
Total business of the bank have gone up to Rs 3,94,382 crore at the end of the period.
Kamath said the board has approved acquiring 63.6 per cent stake in a joint venture floated in association with Kazakhstan-based Dana Bank.
The bank would be moving ahead with regards to taking necessary regulatory approvals for operationalisation of the JV, he added.
Shares of PNB were trading at Rs 842, down 1.16 per cent in the afternoon trade on the BSE.
More from India
More from World
More from Sports
More from Entertaiment
- UP CM Yogi Adityanath takes 50 decisions without single Cabinet meet
- UP CM Yogi Adityanath reviews Gomti riverfront work
- Triple Talaq: Why AIMPLB are opposing the petitions filed in Supreme Court?
- Legal, illegal slaughterhouses in UP: What you need to know
- Triple talaq, polygamy integral part of Islam: AIMPLB tells SC
- Azam Khan demands ban on cow slaughter across India, says Muslims should stop eating beef
- Kapil Sharma–Sunil Grover fallout: Kiku Sharda finally breaks silence
- Chinese national insults Indian flag, throws it in dustbin outside Noida Oppo office; massive protest takes place
- Asaduddin Owaisi asks Centre to clarify policy on buffalo meat export, Nirmala Sitharaman gives apt reply
- No ban on cow slaughter in three Northeast states if party comes to power next year: BJP