India's second largest lender (in terms of total business)
Punjab National Bank (PNB) on Wednesday reported more than 18% year-on-year
jump in its fourth quarter (Jan-March) net profit at Rs 1,424, supported by
higher interest and other incomes.
Net interest income or the difference between interest
earned and paid out, increased 9.3% y-o-y to Rs 3,310 crore. Other income
too rose more than 11% to Rs 1,276 crore.
Analysts on average had expected net profit at Rs 1,334
crore and net interest income at Rs 3,625 crore.
The bank’s net profit rose at a slower pace by 10% y-o-y to
Rs 4,884 crore for the year ended March 31, 2012. PNB’s loan book expanded by
21% y-o-y to Rs 2.94 lakh crore.
During the quarter, the gross non-performing asset (NPA)
ratio climbed to 2.93% (at Rs 8,720 cr) as against 2.42% in October-December
quarter. Net NPA ratio too rose from 1.11% to 1.52%.
Moneycontrol.com earlier reported that PNB was
the second largest lender, with an exposure of around Rs 910 cr, to Hindustan
Construction Company's debt restructuring by 27 lenders' consortium. In Moser
Baer Solar's debt recast of Rs 740 crore, PNB is the lead banker with an
exposure of around Rs 200 crore. The case was referred to Corporate Debt
Restructuring cell in April.
PNB made provisions of Rs 1,027 crore in Q4FY12 versus Rs
946 crore in the third quarter of the same year.
The bank will pay a dividend of Rs 22 a share for the
financial year 2011-12.
In 2011-12, the lender's deposits grew more 21%
to around Rs 3.80 lakh crore.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd 
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