PNB Q1 operating profits up 59.7%

MV Tanksale, Executive Director of Punjab National Bank said that total business of the bank crossed Rs 3.75 lakh crore. Operating profits in Q1FY10 stood up 59.7%. Cumulative wage provision was up to Rs 750 crore. Profit on sale of investments stood at Rs 358 crore. ROE stood at 23.82% from 18.5% and RoA stood at 1.35% on June Vs 1% on YoY basis.

He further said that the cost of domestic deposits stood at 5.94% in Q1FY10 vs 5.8% in Q1FY09. Average yield on domestic deposits stood at 10.8%. Book value stood at Rs 443.1/sh. Education loans have gone up 40%, he added.

Punjab National Bank posted numbers better than estimates. PNB Q1FY10 net profit stood up 62.38% from Rs 512.4 crore to Rs 832.05 crore, CNBC-TV18 estimate was of Rs 700.31 crore, Net Interest Income (NII) stood up 28.86% from Rs 1444.75 crore to Rs 1861.81 crore, CNBC-TV18 estimate was of Rs 1819.84 crore. Other Income stood up 112.69% from Rs 456.13 crore to Rs 970.16 crore.

Provisions stood at Rs 302 crore Vs Rs 210 crore. CAR stood at 14.45% Vs 12.96%. Net NPAs stood at 0.19 Vs 0.63. Treasury segment profit stood at Rs 242 crore Vs Rs 51 crore. Corporate banking profit stood at Rs 726 crore Vs Rs 397 crore. Corporate banking revenue stood up 73.19%, Treasury revenues stood up 35.81% and Retail banking revenues stood up 12.03%.

No related posts.