PNB Q2 net jumps 19.65%

New Delhi, Oct 30 (UNI) Punjab National Bank today posted a 19.65 per cent increase in its net profit for the second quarter ended September 30, 2006, at Rs 504.99 crore as compared to Rs 422.04 crore for the same period last year.

The bank's total income increased 13.62 per cent to Rs 3,048.32 crore for the quarter from Rs 2,682.84 crore for the corresponding period previous year.

The operating profit of the bank for the quarter stood at Rs 889 crore, up by 29.97 per cent as compared to Rs 684 crore during the Q2FY06, PNB Chairman and Managing Director S C Gupta told reporters here.

Similarly, the net profit of the bank for the first half of the current financial year amounted to Rs 873 crore as compared to Rs 780 core in the corresponding period of last year.

Also the net interest income of the bank increased by 16.5 per cent on a year-on-year basis to reach Rs 2,656 crore for the half year ended in September 2006.

Talking about improvement in customer services, Mr Gupta said we have been taking advantage of our rural and semi urban branches to reach out to maximum people.

''To improve our services in Bihar we have bifurcated Patna and Muzzafarpur zone,'' he said adding that the bank would continue with its policy of modernising and providing latest banking services to the customers.

Ranked at 248th place amongst the top 1000 banks of the world, the PNB was started in 1896 in Lahore.

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