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PNB pays Rs. 54.67 cr dividend to GOI

New Delhi, 15 December, 2005

Punjab National Bank has paid a dividend of Rs.54.67 crore for the half year ending September 2005, to Govt. of India. Shri S.C. Gupta, Chairman and Managing Director, PNB, presented Dividend Cheque to Shri P.Chidambaram, Hon'ble Finance Minister. Shri C.P.Swarnkar, Executive Director and Shri Arun Kaul, General Manager of the Bank were also present on the occasion.

S. C. GUPTA, CMD, PNB WITH C. P. SWARNKAR, ED, PNB &  ARUN KAUL, GM, PNB HANDING OVER DIVIDEND CHEQUE TO  P. CHIDAMBRAM, HON'BLE FINANCE MINISTER

PNB earned a net profit of Rs.780.20 crore during the 1st half of Financial Year 2005-06. Net interest income of the Bank increased by 19.6% on y-o-y basis to reach Rs. 2279 crore for the half-year ended September 2005. Net interest margin of the Bank also increased to 3.99% in Sept. 2005 as compared to 3.80%in Sept. 2004. Total Business of the Bank as on September 2005 stood to Rs.1,73,282 crores registering y-o-y growth of 18.3%. Retail Advances of the Bank grew by 35% to touch Rs. 13335 crore as at the end of September 2005 as compared to Rs. 9915 crore at the end of Sept. 2004. Surpassing the National goal of 40%, priority sector credit of the Bank represented 44.42% of Net Bank Credit. Lending to agriculture sector amounted to Rs.12,483 crore as on September 2005 as compared to Rs.9,541 crore in the corresponding period last year registering a growth of 30.8%.

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