Punjab National Bank reported in its first quarter results of 2013-2014 net profit at Rs 1,275 crore, net interest margins remains high at 3.252%, the significant surge in spite of fiscal crisis this quarter with an alarming non-performing assets (NPAs) has its impact but with strategy to lure bulk deposits,education and consumer finance the bank maintained its dignified results said while briefing media, the CMD Mr K R Kamath today in New Delhi.
PNB Chairman and Managing Director Mr K R Kamath said after announcing first quarter numbers
Total business above Rs 7.01 Lac Cr.
Domestic CASA share 39.63%.
Net Interest Margins remains high at 3.252%.
Return on assets stood at 1.04%.
Book Value per share increased to Rs 920/
Net interest income or the difference between interest earned and paid out, grew by 5.7 percent year to year to Rs 3,907 crore.
CMD Mr K R Kamath further said Punjab National Bank is initiating this year to open 500 more branches on question of bank’s strategy to its expansion plan. Bank is requesting Rs 1,500 crore capital support from the government to enhance its capital base. Government’s present stake is 58 percent which will enhance in proportion.
