PNB pays Rs 109 cr dividend cheque to govt

New Delhi, Aug 8 (UNI) Chairman and Managing Director Punjab National Bank K C Chakrabarty today handed over a dividend cheque of Rs 109.34 crore to Finance Minister P Chidambaram.

This final dividend of 60 per cent for the financial year 2006-07 is in addition to 40 per cent interim dividend of Rs 72.90 crore already paid by the bank.

The bank achieved a significant business of Rs 2,38,249 crore at the end of June 2007.

During fiscal 2006-07, with 46 per cent share of low cost deposits, the bank achieved a net profit of Rs 1,540 crore.

The bank's Return on Assets at 1.03 per cent was also the highest.

PNB has implemented core banking scheme (CBS) in 2,526 service outlets at around 764 centers.

UNI