Punjab National Bank has posted a 28.2 per cent rise in net profit at Rs 322.67 crore for the quarter ended June 30, 2004 as compared to Rs 251.76 crore in the quarter ended June 30, 2003.
Total income has increased from Rs 2174.04 crore in June Quarter-03 to Rs 2,494.57 crore in the quarter ended June 30, 2004.
The operating profit of the bank for the quarter ended June 2004 touched Rs 800.99 crore as compared to Rs 594.74 crore in the previous year, registering a growth of 34.7 per cent, said S S Kohli, Chairman & Managing Director of the bank.
Total deposits of the bank at the end of June 2004 amounted to Rs 91,203 crore as compared to Rs 72,786 crore in June 2003, registering a growth of 25.3 per cent on year-on-year basis.
The bank has the largest network of branches amongst nationalised banks with 4,475 offices, including 447 extension counters at the end of June 2004.
As a part of technological initiatives, the bank has achieved 100% computerisation of branches capturing nearly 98 per cent of the total business.
PNB has also launched a joint venture company, the Principal PNB Mutual Fund, and is marketing the mutual fund products of the Principal group.
PNB has been ranked at 313rd position amongst the top 1,000 banks globally, by prestigious international publication, The Banker.
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