The country’s second largest public sector lender Punjab National Bank (PNB) is looking to raise about Rs 2,000 crore of capital through bonds in the third or fourth quarter of this fiscal to fund its business growth.
The bank expects to witness loan growth of 20-22 percent in the current fiscal despite an increase in interest rates in the last 15 months.
Further, the bank is planning to enter into Australia through a representative office in a bid to expand the company’s global footprint, the bank has already received a licence for the same.
The bank’s net profit for the quarter ended March 31, 2011 increased by 5.80% at Rs 1200.90 crore whereas the same was at Rs 1135.03 crore for the quarter ended March 31, 2010. Its total income has surged by 32.89% at Rs 8585.65 crore for the quarter under review whereas the same was at Rs 6460.78 crore for the corresponding quarter of the previous year.
