The bank's net interest income grew about 20% to ₹9,923 crore during the second quarter of current fiscal, while operating profit grew 12% to ₹6,216 crore.
Punjab National Bank MD & CEO Atul Kumar Goel said credit cost will reduce in the coming quarters and profitability of the bank will increase. The net interest income, net profit, and operating profit are highest in the past 14 quarters, he said. "RAM (Retail, agri and MSME sectors) will be the focus areas of PNB. In the first half of current fiscal (Apri-September), we achieved a profitabiity of over ₹3,000 crore. I am hopeful that we will be able to maintain the same profitability in the third and fourth quarters," Goel told reporters. The bank will open 100-150 new branches in the current fiscal, he added.
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