State-owned Punjab National Bank (PNB) posted a net profit of Rs 1,090 crore for the quarter ended on December 31, 2010, registering a growth of 7.8% against Rs 1,011 crore for the corresponding period of the previous fiscal.
Punjab National Bank?s net interest margins (NIM) registered a minor increase to 4.13% in the third quarter from 4.06% in the second quarter of the current fiscal.
Total business of the bank during the period crossed Rs 5 lakh crore to reach Rs 5,10,125 crore in the quarter ended in December 2010.
Bank?s deposits by end of first nine months of the fiscal was Rs 2,88,873 crore compared to Rs 2,33,946 crore during the corresponding period the previous fiscal.
Current Account and Savings Account (Casa) deposits of the bank increased by 22% to Rs 1,12,806 crore in December 2010 from Rs 92,492 crore in December 2009.
Bank?s advances grew by 30% to Rs 2,21,252 crore at the end of December 2010 from Rs 1,70,427 crore recorded at the end of December 2009.
Total income of the bank during the quarter ended December 2010 rose by 28% to Rs 7,976 crore due to healthy growth of 32.1% in interest income.
Net interest income during the nine months of 2010-11 improved by 46.2% to Rs.8,778 crore as a result of nominal increase in interest expenses of 9.5% in during the period.
Cost of deposit stood at 5.20% in the quarter ended in December 2010.