Sarkaritel.com News and Features-Corporate News

PNB Pays Rs.364.48 Crore Dividend to GoI

New Delhi, August 20, 2009   Mohan V. Tanksale & Nagesh Pydah Executive Directors, PNB presented RTGS credit advice of Rs.364.48 crore being dividend for the financial year 2008-09 to Pranab Mukherjee, Hon’ble Finance Minister, Govt. of India.    L.P. Agarwal, Chief General Manager of the Bank was also present on the occasion.

This annual dividend of Rs. 20/ per share i.e. 200% for the financial year 2008-09 as against Rs.13/- per share i.e. 130% in the preceding year paid by Punjab National Bank to the Govt. of India is the highest amongst public sector Banks amount-wise and percentage-wise. The Govt. Of India holding in the Bank is 57.8%. The net profit of the bank was Rs.3090.9 crore in the F.Y. 2008-09, as against Rs.2048.8 crore in the previous year recording y.o.y. growth of 50.9%.

PNB has achieved significant growth in total business which surged at the end of June 2009 to Rs 376939.11 crore registering a growth of 31.11% y-o-y basis. Net profit of the bank registered a y-o-y growth of 62.38% to Rs.832.04 crore, during First Quarter of FY 2009-10 as against Rs.512.40 crore in the corresponding quarter of last year. During the quarter ended June, 2009, Operating profit of the bank increased to Rs.1569.34 crore from Rs.982.43 crore, registering a growth of 59.74%.

The bank’s return on asset was 1.35% as at the end of June, 2009, as compared to 1.00% at the end of June, 2008. Total deposit of the Bank at the end of June, 2009 amounted to Rs.218959.71 crore as compared to Rs.1,73,073.80 crore in June, 2008 registering a y-o-y growth of 26.51%. Similarly, advances of the Bank increased to Rs.1,57,979.40 crore as compared to Rs.1,14, 429.98 crore at the end of June, 2008, registering a growth of 38.06%.

PNB has always looked at technology as a key facilitator to provide better customer service especially to youth segment, bank has implemented CBS in its 4931 service outlets at 2574 centres, covering 100% of its business to facilitate "anytime, anywhere" banking to its clients. The bank has also been offering Internet banking services to the customers of CBS branches like booking of Railway and Air tickets, payment of utility bills, transfer of funds through RTGS & NEFT facilities, online share trading facility etc. With 4685 domestic offices including 213 extension counters, the Bank has the largest network of offices amongst the nationalised Banks in the country.

To provide banking facilities, at a fair cost, to a vast majority of low income population, which is deprived of these facilities, the bank has achieved 100% Financial Inclusion in 21174 villages and opened 53.57 lac "No Frill" accounts. Bank has also launched a ‘Project Namaskar’ under which one lac touch points will be established in unbanked villages by 2013 to extend Bank’s outreach and create a large customer base. Bank targets to increase its customer base to 150 million by 2013.

Bank has put in place a comprehensive Road Map in its Vision 2013 document, wherein business & profit goals to be achieved by 2013 have been detailed. The Bank targets to achieve total business of Rs 10 lac crore by 2013.  
 

E-Mail : newseditor@sarkaritel.com