PNB’s Q2 net declines by 12%

Punjab National Bank (PNB) has reported results for second quarter ended September 30, 2012.

The bank’s net profit for the quarter has declined by 11.57% at Rs 1065.58 crore as compared to Rs 1205.03 crore for the same quarter in the previous year. The bank’s total income has increased by 15.10% at Rs 11326.49 crore for quarter under review as compared to Rs 9840.87 crore for the quarter ended September 30, 2011.

Net interest income of the bank for the quarter under review grew by 5.7% to Rs 3,649.4 crore, against Rs 3,452.6 crore, quarter-on-quarter (Q-o-Q). The bank's Gross NPAs for the quarter stood at 4.66% against 3.34% in the previous quarter. Net NPAs of the bank also has increased to 2.69% from 1.68% (Q-o-Q).