Companies

PNB posts Rs. 1,246 crore net profit in Q1

Punjab National Bank (PNB), on Friday, reported Rs.1,246-crore profit, a rise of 12.7 per cent during the first quarter of the current fiscal.

Chairman and Managing Director, K. R. Kamath, said the bank had a net profit of Rs.1,105 crore during the April-June quarter of the previous fiscal.

Interest income during the quarter registered a healthy growth of 26.8 per cent at Rs.10,545 crore against Rs.8,315 crore in the year-ago period.

Gross NPAs

The gross non-performing assets (NPAs) rose by 104 per cent to Rs.9,988.18 crore while net NPA increased by 135.1 per cent to Rs.4,917.04 crore at the end of June 2012 on year-on-year basis. “We are concerned about the NPAs but the bank is focusing on recovery and NPA position would be better in the coming quarters,” he added.

He said strong performance on NPA reduction during the quarter got outpaced by fresh slippages. “If any of the area is affected by drought, there is very clearly defined scheme for restructuring of accounts of that particular area,’’ he said in respect of RBI guidelines for drought conditions. Shares of the PNB closed at Rs.715.85, down 5.34 per cent on the BSE.

Total income grew by 24.6 per cent to Rs.11,711 crore during the first quarter against Rs.9,398.91 crore in the same period of 2011-12. At the same time, the operating profit rose by 14.8 per cent to Rs.2,841 crore from Rs.2,474 crore, Mr. Kamath said.

He said the bank expects credit and deposit to grow by 18 per cent during the current fiscal.

Bank of India

Bank of India, on Friday, reported a 74 per cent jump in net profit at Rs.887.45 crore for the quarter ended June 30, 2012, against Rs.517.53 crore in the year-ago period

. Total income rose to Rs.8,550.03 crore from Rs.7,293.68 crore. Its operating profit was Rs.1,673.56 crore, up from Rs.1,395.94 crore a year ago.

Income from the domestic segment was Rs.7,525.48 crore, up from Rs.6,702.80 crore a year earlier and that from international segment rose to Rs.1,024.55 crore from Rs.590.88 crore.

The bank had assets worth Rs.4,00,540.99 crore as of June 30, 2012, up from Rs.3,45,957.65 crore in the corresponding period a year ago.

Union Bank of India

Union Bank of India reported a 10.15 per cent rise in net profit at Rs.511.59 crore for the April-June quarter of this fiscal against Rs.464.42 crore during the corresponding period of the previous fiscal. Total income increased to Rs.6,561.10 crore from Rs.5,399.68 crore, it said in a filing to the BSE.

Gross non-performing assets during the period grew to Rs.6,541.46 crore from Rs.3,745.10 crore.

The bank maintained the capital adequacy ratio at 11.64 per cent against a CAR of 12.88 per cent in the same period of the previous fiscal, it said.

Central Bank

Central Bank of India posted a 20 per cent rise in net profit at Rs.335.95 crore for the first quarter of 2012-13, against Rs.280.78 crore during the April-June quarter of 2011-12.

During the quarter, total income of the bank rose to Rs.5,624.97 crore from Rs.4,840.14 crore in the corresponding period of the previous fiscal, it said in a filing to the BSE.

Gross non-performing assets (NPAs) were Rs.7,509.72 crore, up from Rs.2,882.83 crore in the previous year.

Dena Bank

Dena Bank reported a 42 per cent rise in its net profit at Rs.238.63 crore for the first quarter ended June 30, 2012, against Rs.168.09 crore in the April-June quarter a year ago, the bank said in a BSE filing.

Total income rose to Rs.2,278.85 crore from Rs.1,652.53 crore a year earlier. The operating profit rose to Rs.457.92 crore from Rs.307.74 crore in the same period last year.


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