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PNB net at Rs. 1109 cr.

By Our Special Correspondent

NEW DELHI, MAY 15. Punjab National Bank has set its eyes on over 18.5 per cent growth in business at Rs. 1,60,000 crores this fiscal as it posted a robust 31.6 per cent growth in net profit at Rs. 1,108.69 crores in 2003-04. It is also aiming at improving its financial position further and bringing down its non-performing assets to close to zero per cent in 2004-05 from 0.98 per cent. "Our business should touch Rs. 1,60,000 crores this fiscal. We also expect to maintain the present trend in profit growth," the bank Chairman, S. S. Kohli, said today while addressing a press conference. He said the bank's business was Rs. 1,35,141 crores, with deposits at Rs. 87,916 crores and advances at Rs. 47,225 crores. The operating profit surged by 34.7 per cent to Rs. 3,120.86 crores, he said. Mr. Kohli said the bank's capital adequacy ratio increased to 13.10 per cent in March 2004 from 12.02 per cent.Income was up 10.4 per cent at Rs. 9,647 crores.

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