PNB Q4 net profit up 59.2 per cent

Punjab National Bank registered a profit growth of 59.2 per cent for the fourth quarter ended March 2009 at Rs 866 crore. Revenues increased 38 per cent year on year at Rs 6,098 crore, reports HT Correspondent.

Punjab National Bank registered a profit growth of 59.2 per cent for the fourth quarter ended March 2009 at Rs 866 crore. Revenues increased 38 per cent year on year at Rs 6,098 crore.

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For the full year ended March 2009, the bank’s profit rose to Rs 3,091 crore from Rs 2,048 crore in March 2008. Revenues stood at Rs 22,246 crore during the period, up 36.8 per cent.

The bank reduced both its gross non-performing asset (NPA) and net NPA in March 2009. The net NPA came down from 0.64 per cent in March 2008 to 0.17 in March 2009.