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PNB reports poor Q2 performance; NPAs rise sharply

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PNB reports poor Q2 performance; NPAs rise sharply
India's second largest PSU bank, Punjab National Bank has reported a poor set of numbers for Q2 2013 with non performing assets surging 4.66%, as against 3.34% reported in the previous quarter.
 

The Bank has posted a net profit of Rs 1065 crores for the quarter ended September 30, 2012 as compared to Rs 1205 crores for the quarter ended September 30, 2011. Total Income has increased from Rs. 9840 crores for the quarter ended September 30, 2011 to Rs. 11326 crores for the quarter ended September 30, 2012.

The Capital Adequacy Ratio (%) as per Basel-II of the bank for Q2 2013 was 11.73%, as against 12.57% in the corresponding quarter.

The stock of the bank was trading lower by 5% at Rs 761, down by Rs 42 over its previous closing.

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