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| PNB declares Q3 results | | | Early Time Report
Jammu, Jan 30
Punjab National Bank today declared the Bank reviewed financial results for the Quarter third of Financial year 2008-09.
Dr. K.C. Chakrabarty, chairman & Managing Director, PNB declared results at New Delhi.
R.C. Koul, DGM, Punjab National Bank, while talking to media persons in Jammu said, that Bank having completed technology deployment with 100% CBS in 4375 branches in 2553 centers, has posted strong operational and financial performance as at the end of Dec 08, despite some of the most challenging market conditions. He further said that better financial results of the Bank emanate mainly from efficient core operations of the Bank and Better margin management.
The Bank has been progressive in passing on the Benefit of monetary measures of RBI to its customers by offering one of the lowest BPLR & retail interest rates, he said and added that capital Adequacy Ratio is 13.91% as per Base 11 in Dec 08 of which tier 1 capital is 9.39%.
The net profit of the Bank increased by 85.76% to Rs 1005.82 cr from Rs 541.46 cr last year. Net profit of the Bank for the nine months ended December 2008 amounted to Rs 2225.31crore.
He further added that six new branches will be opened in the state of J&K at Kargil, Ganderbal, Doda, Kishtwar, Shopian and Katra and our Bank is at number 2 in terms of business and at number 3 in terms of branches in the state, he added.
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