Punjab National Bank net climbs 18.6% in Q4

State-owned public sector Punjab National Bank (PNB) has reported a 18.6 per cent rise in net profit to Rs 1,424 crore for the quarter ended March 31, against Rs 1,201 crore in the fourth quarter of the previous year. The increase came on account of a rise in interest income and lower provisioning during the quarter.

Total income increased by 27.6 per cent to Rs 10,956 crore in the January-March quarter from Rs 8,585 crore in the year-ago period. The country’s second largest state-run lender saw its Q4 operating profit grow 17.1 per cent to touch Rs 2,936 crore, compared with Rs 2,508 crore in the corresponding period of 2010-11.

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