PNB reports improved Q4 2013 performance; stock up

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PNB reports improved Q4 2013 performance; stock up
Punjab National Bank has reported better then expected numbers with profit after tax growing, while the non performing assets have reduced. Read what are non performing assets

The Bank reported a net profit of Rs 1131 crores, for the fourth quarter ending March 31, 2013, against Rs 1305 for Q3 2013.

Total income for the fourth quarter was Rs 11,552 crores, as against Rs 11,500 crores in the previous quarter ending December 31, 2012. The gross non performing assets of the bank showed an improvement to 4.27 per cent as on March 31, 2013, as against 4.61 per cent on December 31, 2013.

The board of directors have recommended a dividend of Rs 27 per share. The stock was up 4.26 per cent at Rs 781 at 12.05 pm.

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