Punjab and Sind Bank profit jumps 35.47%

Government-owned Punjab and Sind Bank reported a 35.47 per cent increase in net profit for the second quarter of the current fiscal. The net profit rose to Rs 147.76 crore for the second quarter ended September 30 from Rs 109.07 crore from the year ago period.

The total business of the bank stood at Rs 1,02,982.88 crore for the half year ended on September 30 against Rs 88,841.06 crore in the corresponding period last year, registering a growth of 15.92 per cent on a year on year basis.

Net NPA of the Punjab and Sind Bank stood at Rs 297.46 crore as on September 30 against Rs 155.90 crore on the year ago period. The net NPA ratio was 0.71 per cent.