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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
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
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.