PSB net up 102.13 pc during April-Sep'06

New Delhi, Oct 16 (UNI) Punjab and Sind Bank (PSB) today posted a 102.13 per cent jump in its net profit at Rs 72.93 crore for the period ended September 30,2006, as against Rs 36.08 during the same period last year.

The total business of the bank showed an increase of more than 42 per cent on a year-on-year basis and stood at Rs 30,639.43 crore as on September 30, 2006 as against Rs 21,558.86 crore in the corresponding period last year.

PSB's total deposits stood at Rs 19,372.67 crore from Rs 14,303.02 crore during the period, registering a growth of 35.44 per cent YoY.

The advances portfolio of the bank grew by 55.28 per cent at Rs 11,266.76 crore during the half year ended September 30, 2006 from Rs 7,255.84 crore as against the same period last year.

PSB was able to bring down its NPAs to 1.81 per cent from 5.96 per cent during the half year ended September 30, 2005. The CRAR (Capital to risk-weighted assets ratio) of the PSU bank stood at 11.84 per cent from 16.94 per cent last year.

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