In a bid to maintain its financial strength, Punjab National Bank (PNB), the country’s second largest public sector lender, is planning to take on capital infusion of upto Rs 2,360 crore. The bank would go for capital infusion of Rs 1,075 crore from LIC of India, while an amount of Rs 1,285 crore has been sought from the government.
The total business of the bank during the first nine months of the current fiscal has crossed Rs 6,00,000 crore milestone to reach Rs 6,19,122 crore, recording a growth of 21.4%.
PNB's net profit for nine months ended December, 2011, stood at Rs 3,460 crore, registering a year-on-year growth of 7%, adding net profit of the bank for the third quarter of 2011-12 recorded a growth of 5.5% to reach Rs 1,150 crore.
