PNB NET FLAT DUE TO TREASURY HIT

Punjab National Bank reported a marginal rise in its net profit for the third quarter of the current financial year at Rs.1011 crore, up 0.54% from Rs.1005 crore in the corresponding period of 2008-09. Total income also remained flat at Rs.6236.55 crore against Rs.6236.16 crore of the corresponding period of the previous year.


Mr. K.R. Kamath, Chairman and Managing Director, Punjab National Bank said the growth remained flat because of a fall in treasury income at Rs.157 crore from Rs.341 crore last year.


Total business of the bank crossed Rs 4,00,000 crore on December 31, 2009, to reach Rs 4,04,373 crore against Rs 3,38,728 crore in the December quarter last year, showing a growth of 19.4 per cent. Deposits rose to Rs 233,946 crore from Rs 197,069 crore in the year ago period, up 18.7 per cent. Advances rose 20.3 per cent to Rs 170,427 crore and the credit-deposit ratio improved to 72.8 per cent. Net interest margin for the quarter stood at 3.84 per cent and net interest income grew by 22.8 per cent. The capital adequacy ratio as per the Basel-II norms was at 14.56 per cent and 13.97 per cent as per Basel-I.


Source: http://www.business-standard.com/india/news/pnb-net-flat-due-to-treasury-hit/383840/