New Delhi, Nov 1: State-run Punjab National Bank said on Monday that it earned a net profit of Rs 2.63 billion in the first half of 1999/2000 (April-March) compared with Rs 1.94 billion in April-September 1998."Net profit for the bank for the half year ended September 1999 amounted to Rs 2.63 billion, registering an year-on-year growth of 35.1 per cent," a bank statement said.
It said total income jumped 13.9 per cent to Rs 27.94 billion in the first six months of fiscal 1999/2000.
"Interest income amounted to Rs 24.88 billion registering 14.7 per cent growth. Non-interest income showed a growth of 7.7 per cent during the review period."
The statement said total expenses grew by 13.5 per cent year-on-year. It did not give the exact figure.
"Total deposits of the bank at the end of September 1999 stood at Rs 442.08 billion showing an increase of Rs 62.39 billion or 16.4 percent over corresponding period last year."
The bank's total end-September advances were Rs 198.35 billion, up 18.8 per cent from a year earlier.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.