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Journalism of Courage
The country8217;s second largest public sector lender Punjab National Bank on Wednesday said it could raise up to Rs 6,800 crore from bonds to fund growth plans.
8220;We have headroom for raising Rs 6,800 crore through bonds issue and the money would be raised depending on our requirement,8221; said PNB chairman and manging director KR Kamath here on Wednesday.
Asked about the plans of raising funds in the near future,Kamath said,8221;if we foresee interest rates hardening then we can raise some capital.8221; Last November,the bank raised Rs 700 crore from bonds.
Meanwhile,the net profit of the bank remained flat at Rs 1,011 crore for the third quarter ended December,owing to low treasury income and higher provisioning. The bank had reported a net profit of Rs 1,006 crore during the same quarter a year ago. However,the bank proposed 100 per cent interim dividend for its shareholders.
The total income of the bank also remained at the same level as that of corresponding quarter a year ago at Rs 6,236.55 crore. During the quarter the bank booked treasury income of the bank was Rs 157 crore against Rs 341 crore in the same quarter a year ago,he said.
