Wednesday, June 22, 2011
PUNJAB NATIONAL BANK (PNB) = RESULTS = FOR Q4 FY 2011 = AND FY 2011 = FY 11 EPS :Rs.140.60 = EXCELLENT PERFORMANCE
Punjab National Bank
NSE Symbol PNB
RESULTS FOR FY 2011
Ø TOTAL BUSINESS CROSSES Rs.5.55 lakh crore
Ø NET INTEREST INCOME SURGES BY 39.3%
Ø NET INTEREST MARGIN IMPROVES TO 3.96%
Ø NET PROFIT RECORDS 13.5% GROWTH TO REACH Rs.4433 crore
Ø OPERATING PROFIT GROWS BY 23.6% TO TOUCH Rs.9056 crore
PNB continues to be NUMBER ONE amongst nationalized banks in :
Ø Highest Net Profit Rs 4433 crore (13.5%)
Ø Highest Operating profit Rs 9056 crore (23.6%)
Ø Highest Business Rs 5.55 lac crore (27.3%)
Ø Highest Deposits Rs 3.13 Lac crore (25.5%)
Ø Highest Advances Rs 2.42 Lac crore (29.7%)
Ø Highest CASA Rs 1.20 Lac crore (18.1%)
Ø Total Assets Rs 3.78 Lac crore (27.5%)
Ø Highest Customer Base 6.3 crore
Ø Largest Network More than 5100 branches
CASA share of the Bank is high at 39.16% (YoY growth of 18.1%)
Net Interest Income grew by 39.3%, while NIM improved to 3.96%
Earnings per Share increased to Rs.140.60
Backed by the profit of the Bank, the Board of Directors proposed a Dividend of 220%.
PERFORMANCE HIGH LIGHTS
for Q4 FY’11 and FY 2011
P R O F I T
Net Profit of the Bank for the quarter ended March 2011 (Q4 FY’11) amounted to Rs. 1201 crore as against Rs.1135 crore last year, registering a YOY growth of 5.8%.
o Net Profit of the Bank for Financial Year ended March 2011 amounted to Rs.4433 crore as compared to Rs.3905 crore last year, recording a y-o-y growth of 13.5 %.
Core Net Profit (excluding treasury operations) in Q4 FY’11, amounted to Rs.1101 crore, registering yoy growth of 10.8%.
o Core Net Profit (excluding treasury operations) in FY 2010-11 amounted to Rs.3987 crore registering a stellar YOY growth of 31.4%.
Operating Profit for Q4 FY’11 stood at Rs.2508 crore in as against Rs.2332 crore in Q4 FY’10, registering a YOY growth of 7.5%.
o Operating profit of the Bank during the Financial Year ended March 2011 grew by 23.6% to reach Rs.9056 crore from Rs 7326 crore.
Core Operating Profit (excluding treasury profit) in Q4 FY 2011 grew by 11.8% to reach Rs.2455 crore.
o Core Operating Profit (excluding treasury profit) in FY’11 rose by robust 34.2% to Rs.8757 crore.
B U S I N E S S
Total Business of the Bank reached Rs.5,55,005 crore as against Rs. 4,35,931 crore in March 2011, showing a y-o-y growth of 27.3%.
Deposits of the Bank rose to Rs.3,12,899 crore as on 31.03.2011 from Rs 2,49,330 crore as on 31.03.2010, exhibiting a y-o-y growth of 25.5%.
CASA deposits increased to Rs.1,20,325 crore in March’11 from Rs.1,01,850 crore in March’10, recording a growth of 18.1%.
o CASA share stood at 39.16% at FY ended March’11.
o Saving deposits increased by 19.7% to Rs. 93,487 crore while Current deposits rose by 13.2% to Rs. 26,838 crore.
Advances of the Bank at Rs.2,42,107 crore at the end of March’11 grew by robust 29.7% as against Rs.1,86,601 crore at the end of March’10.
Credit Deposit Ratio increased to 77.38% as at March’11 from 74.84% in March’10.
I N C O M E
Total income during Q4 FY’11 rose by 31.2% to Rs.8586 crore due to healthy growth of 33.2% in Interest Income.
o Total income during FY 2011 increased to Rs.30,599 crore, recording a growth of 22.2% on account of 26% growth in Interest Income.
Net interest income for Financial Year ended March’11 improved by 39.3% to Rs.11,807 crore (Q4 FY’11: Rs.3029 crore; Growth: 22.4%).
Non-Interest Income in Q4 FY’11 amounted to Rs.1145 crore (19.6% growth) and Rs.3613 crore for FY ended March’11.
I M P O R T A N T R A T I O S
Gross NPA ratio stood at 1.79% as at March’11 whereas Net NPA ratio was 0.85%.
Provision Coverage Ratio at 73.21% was above stipulated 70% level.
Net Interest Margin (NIM) improved to 3.96% for FY ended March’11 from 3.57% in the previous year.
Return on Assets stood at 1.34% in the Q4 FY’11. (FY ended March’11: 1.34%).
Cost of Deposit stood at 5.64% for Q4 FY’11 and 5.24% for FY ended March’11.
Cost to Income ratio stood at 39.93% in Q4 FY’11 and 41.27% in FY ended March’11.
Return on Equity stood at 23.97% in Q4 FY’11 and 22.13% in FY ended March’11.
Earnings Per Share (annualized) was Rs.154.52 for the Q4 FY’11 against Rs. 143.99 last year (FY ended Mach’11: Rs. 140.60 against Rs.123.86 in March’10)
Book Value per Share improved to Rs.661.20 in March’11 as against Rs.514.77 in March’10.
CRAR of the bank was comfortable at 12.42% under BASEL-II (Tier-I Capital: 8.44%; Tier-II Capital: 3.98%)
Retail loans outstanding grew by 22.94% on YoY basis to cross Rs. 23,600 crore at end of March’11 as against Rs.19,214 crore in corresponding last year.
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