Bank of Punjab Q1 net up 20%

Our Banking Bureau

Mumbai, Aug 3: Bank of Punjab (BoP) has reported a 20-per cent rise in its net profit to Rs 11.80 crore for the first quarter ended June 30, 2001, compared to Rs 9.68 crore in the same quarter of the previous fiscal. Operating profit rose to Rs 20.66 crore (Rs 18.74 crore).

Total income was Rs 112.10 crore, while total expenditure stood at Rs 91.44 crore (Rs 70.25 crore).

The bank has reported an earnings per share (EPS) of Rs 1.11 (Rs 0.92). The capital adequacy ratio stood at 12.51 per cent (11.02 per cent).

Bank of Punjab had reported a net profit of Rs 34.62 crore with total income at Rs 383.22 crore and total expenditure at Rs 318.52 crore for the year ended March 31, 2001.

The bank has been very active in the past few months, offering new retail products with its menu of products like auto loan for new and second hand cars and two-wheelers; consumer loans, home loans and depository services for demat shares.

The bank has posted a 90.30 per cent growth in its auto
loan business in the last financial year.