PUNJAB NATIONAL BANK - SUPERB PERFORMER AMONG PSB PACK

PUNJAB NATIONAL BANK

FY 09 VS FY 10  RESULTS

COMPARISON

Review :

Punjab National Bank is an extraordinary bank from the PSB pack. Year after year, it has been turning out excellent results – unmatched even by the PRIVATE SECTOR BIGGIES. The Financial Results for FY 10 confirm its SUPER EFFICIENCY in performance.

Total Income has risen from Rs.                22245.85 Crores in FY 09 to  Rs. 24879.40 Crores in FY 10, an increase of Rs.2633.55 cr, an increase of 11.84%.

Interest Expended has remained almost static at  Rs. 12295.30 Cr for FY 09 and Rs. 12944.02 Cr for FY 10.

This has helped PNB in boosting its net profit considerably.

Net Profit has grown superbly from Rs.3090.88 Cr in FY 09 to Rs. 3905.35 Cr in fy 10, an increase of Rs.814.47 Cr, or 26.35 %.

This has enhanced Basic EPS from Rs.98.03 in FY 09 to Rs.123.86 in FY 10 – which is a huge improvement over the previous year.

Capital Adequacy Ratio has grown from 12.59 to a healthy 12.97 in the same period.

Dividend has been enhanced from 200 percent last year to 220 percent in FY 10.(120 % NOW + 100 % EARLIER)

In the same period, the percentage of Gross to net NPAs has increased marginally from 0.17 to 0.53.

Return on Assets has increased from  1.39 to a healthy 1.44 in FY 10.

Thus, there has been all-round , commendable improvement in the annual operations of the Punjab National bank in FY  10.

The latest quarterly performances have been equally creditable.

The quarterly Basic EPS was 36 for q/e 03/10,  32.07 for q/e 12/09, 29.4 for q/w 09/09, 26.39 for q/e06/09 and 27.45 for q/e 03/09.

As we can see, the quarterly performances have been uniformly mobile upwards. The future of the Bank appears to be GREAT.

AUDITED – CUMULATIVE - NON CONSOLIDATED FIGURES

Description :: FY 09(Rs. in lakhs) :: FY 10(Rs. in lakhs)

Interest/Discount on Advances/Bills ::  1463778 :: 1670130

Income on Investments                :: 440995 :: 457674

Interest on Balances With RBI ::                20232 :: 14921

Others  :: 7611 :: 3966

Interest Earned                :: 1932616 :: 2146691

Other Income :: 291969 :: 341249

Total Income ::  2224585  ::  2487940

Interest Expended :: 1229530  ::  1294402

Employees cost                  ::  292438  ::  312114

Other Operating Expenses  ::  128182  ::  164078

Operating Expenses  ::  420620  :: 476192

Total Expenditure excluding provisions :: 1650150:: 1770594

Operating Profit :: ::       574435  :: 717346

Provisions (other than tax):: 97743 :: 142150

Exceptional Items ::        -              :: -15282

P B T ::   476692  :: 590478

Tax Expense  ::  167604  :: 199943

P A T : 309088  ::  390535

Net Profit (+)  ::    309088  :: 390535

Dividend (%) ::  200         ::   220

Face Value (in Rs.)  :: 10                :: 10

Paid-up Equity ::  31530 :: 31530

Reserves   ::  1282459  ::  1591562

Percentage of shares Held by GOI : : 57.8  ::  57.8

Capital Adequacy Ratio :: 12.59  ::  12.97

Basic EPS :: (in Rs.)          98.03 ::  123.86

Diluted EPS  (in Rs.) ::    98.03 ::  123.86

RECENT ANNOUNCEMENTS TO EXCHANGE

06-05-2010      Punjab National Bank has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Interest earned of Rs. 2146691 lacs for the year ending on 31-MAR-2010 against Rs. 1932616 lacs for the year ending on 31-MAR-2009. Interest expended of Rs. 1294402 lacs for the year ending on 31-MAR-2010 against Rs. 1229530 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 390535 lacs for the year ending on 31-MAR-2010 against Rs. 309088 lacs for the year ending on 31-MAR-2009.              -

06-05-2010      Punjab National Bank has informed the Exchange that the Board of Directors at its meeting held on May 06, 2010 has recommended Final Dividend of Rs. 12/- (Rupees twelve only) (i.e. 120%) per Equity Share of Rs. 10/- for the F.Y. 2009-10, subject to declaration in the ensuing Annual General Meeting. -

06-05-2010      Punjab National Bank has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Interest earned of Rs. 560763 lacs for the quarter ending on 31-MAR-2010 against Rs. 524257 lacs for the quarter ending on 31-MAR-2009. Interest expended of Rs. 310968 lacs for the quarter ending on 31-MAR-2010 against Rs. 333604 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 113503 lacs for the quarter ending on 31-MAR-2010 against Rs. 86557 lacs for the quarter ending on 31-MAR-2009.

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