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Punjab National Bank (PNB) aims to bring its cost-to-income ratio below 50 per cent in the current financial year and further reduce it to around 45 per cent by 2028-29, said Ashok Chandra, MD and CEO of the country's second-biggest lender. The bank's cost-to-income ratio stood at 50.38 per cent in the first half of the current fiscal year, down from 53.3 per cent in September 2025, as it focuses on rationalising expenses and maximising profitability, he told PTI in an interview. "We are aiming to go below 50 per cent this financial year. That is the first target we have set for ourselves. In the next two years, by 2028-29, we should be somewhere around 45 per cent," he said. Chandra said the bank was working on two key areas -- rationalisation of expenses and maximisation of profits-- while sensitising its various units about the importance of improving operational efficiency. Every review meeting of the bank now focuses on the cost of deposits, yield on advances, fee-based income
Punjab & Sind Bank on Saturday reported a 40 per cent jump in net profit to Rs 412 crore for the second quarter ended September 30, helped by improved core income and reduction in bad assets. The public sector lender posted a net profit of Rs 295 crore in the same period of the previous fiscal. The bank's total income increased to Rs 3,747 crore in the second quarter from Rs 3,373 crore a year ago, Punjab & Sind Bank said in a regulatory filing. Interest income rose to Rs 3,394 crore in the September quarter of FY27 from Rs 2,999 crore in the year-ago period. During the quarter, net interest income rose 22 per cent to Rs 1,162 crore against Rs 950 crore in the second quarter of the last financial year. Net Interest Income of the bank improved to 2.65 per cent from 2.56 per cent at the end of September 2025. Cost-to-income ratio reduced to 29.19 per cent compared to 61.87 per cent in the year-ago period. The bank's operating profit also increased to Rs 617 crore from Rs 505 ...
Public sector UCO Bank on Thursday reported a 27 per cent rise in net profit to Rs 786 crore for the second quarter ended September 30. The Kolkata-based lender earned a net profit of Rs 620 crore in the same period last fiscal year. Total income increased to Rs 8,170 crore in the second quarter from Rs 7,421 crore a year ago, UCO Bank said in a regulatory filing. Interest income improved to Rs 7,286 crore in the September quarter of FY27 from Rs 6,537 crore in the year-ago period. Operating profit also increased to Rs 1,872 crore against Rs 1,613 crore in the same quarter a year ago. On the asset quality front, the bank's gross non-performing assets (NPAs) moderated to 1.96 per cent of gross advances at the end of September 2026 compared to 2.56 per cent a year ago. Net NPAs or bad loans came down to 0.18 per cent at the end of September 2026 compared to 0.43 per cent at the end of September 2025. However, provisioning against bad loans rose marginally to Rs 444 crore during th
State-owned Canara Bank on Wednesday reported an 8 per cent increase in net profit at Rs 5,175 crore for the September quarter of this fiscal. During the same quarter of the previous financial year, the bank had earned a net profit of Rs 4,774 crore in the year-ago period. Total income increased to Rs 40,931 crore in the second quarter from Rs 38,598 crore in the same period of the previous fiscal year, Canara Bank said in a regulatory filing. Interest income improved to Rs 35,159 crore from Rs 31,544 crore in the same quarter a year ago. Net Interest Income witnessed a 20 per cent jump in the reported quarter to Rs 11,005 crore as against Rs 9,141 crore a year ago. Operating profit also increased to Rs 8,758 crore as against Rs 8,588 crore in the same quarter a year ago. In terms of asset quality, gross non-performing assets (NPAs) of the bank moderated to 1.33 per cent of gross advances at the end of September 2026 as against 2.35 per cent by the year-ago period. Similarly, ne