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| PNB pays Rs 364.48 cr dividend to govt |
| Press Trust of India / New Delhi Aug 20, 2009, 16:50 IST |
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Punjab National Bank today paid Rs 364.48 crore as dividend to the government for the year 2008-09.
The dividend cheque was presented by the bank Executive Directors Mohan V Tanksale and Nagesh Pydah to Finance Minister Pranab Mukherjee.
The bank had declared 200 per cent dividend for 2008-09, translating into Rs 20 per share. The government holding in the bank currently stands at 57.8 per cent.
The state-run bank posted a net profit of Rs 3,090.9 crore in 2008-09 as against Rs 2,048.8 crore in the previous year, recording a growth rate of 50.9 per cent.
The bank also recorded a 62 per cent jump in the net profit at Rs 832.04 crore for the quarter ended June 30, 2009.
Operating profit of PNB increased to Rs 1,569.34 crore from Rs 982.43 crore, up by 59.74 per cent.
The bank’s return on asset was 1.35 per cent as at the end of June, 2009 as compared to one per cent at the end of June, 2008.
The total business of the bank at the end of first quarter of the current fiscal stood at Rs 3,76,939.11 crore.
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