Punjab National Bank (PNB), India's No 2 state-owned bank has registered 20.6% fall in net profit at Rs 1,130.80 crore for the quarter ended March 2013, against Rs 1,424.06 crore for the quarter ended March 31, 2012. Total income increased by 5.37% to Rs 11,552.84 crore from the Rs 10,964.50 crore in the year-ago quarter.
On asset quality front, the gross non-performing assets (NPA) of the bank have come down from 4.61% at the end of Q3FY13 to 4.27% in the recently concluded quarter. In the same period, its Net NPAs were down to 2.35% from 2.56%.
The bank’s net profit for the year ended March 31, 2013 was down by 2.79% at Rs 4,747.67 crore as compared to Rs 4,884.20 crore for the previous year ended March 31, 2012. However, its total income has surged by 13.35% to Rs 46,109.25 crore for the year under review from Rs 40,678.74 crore for the previous year.
