Punjab & Sind Bank, on Saturday, reported a 13 per cent rise in its net profit at Rs.147.80 crore for the fourth quarter ended March 31, 2012, driven by fee-based income growth in core business.

The bank had a net profit of Rs.130.20 crore in the corresponding quarter of the previous fiscal.

Total income rose to Rs.1,831.56 crore from Rs.1,485.5 crore, a growth of 23 per cent.

“The board proposed a dividend of Rs.2 per share for 2011-12,” he said.

For the year ended March 31, 2012, the net profit declined by 14.2 per cent to Rs.451.28 crore from Rs.526.1 crore recorded in the previous fiscal. However, total income improved to Rs.6,891.96 crore from Rs.5,369.5 crore.

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