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Real Estatehigh interest income boosts pnb net 31%
The
countrys second largest state-owned lender, Punjab National Bank (PNB), on
Thursday reported a 31.1% growth in net profit at Rs 927 crore in the second
quarter ending September. The growth in profit is fuelled by higher interest
and treasury income.
PNB said the growth in profit was after making provisions for
revised wages. Net interest income grew by 22.4%, while net non-performing
assets was reduced to 0.14%.
The bank has initiated steps to buy majority stake in a bank
in Kazakhstan, PNBs first overseas acquisition. The board today approved
acquisition of 63.6% stake in Kazakhstan-based Dana Bank, PNBs newly
appointed CMD K R Kamath told reporters after announcing the second quarter
numbers.
The joint venture would have five branches, he said, adding
that the bank would now seek necessary regulatory approvals for
operationalisation of the JV. The deal size is expected to be $24... (more)
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u2putianu2Nike Shox Deliver
The Nike Shox line welcomes a new shoe to its family. The Nike Shox Deliver is now available in many color ways at local Nike retail shops and online.
The Shox Deliver features an all leather upper with four Shox columns in the heal providing excellent cushioning and comfort. The two initial colorways include an all black model with birch stitching, and a white model with black and red accents.
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