PNB’s net dips 11% to Rs 341.52 cr

JAN 22: "Gross and net profit of the bank would have touched arecord level of Rs 912 crore and Rs 516.92 crore respectively without VRS expenditure," he said. The bank profits was eroded by a staggering 34.47 per cent rise in provisioning – Rs 513.48 crore towards income and wealth tax, Non-Performing Assets (NPAs), gratuity, bonus, pension, and depreciation compared to Rs 381.86 crore in the corresponding period of the last fiscal, he said.

"In order to facilitate the bank to take steps towards universal banking, the bank has already entered into gold business, which posted a turnover of Rs 400 crore within three months, and has also launched a co-branded credit card with HSBC," Kohli said.