Financial Results MARCH2011

PUNJAB NATIONAL BANK
ANNUAL FINANCIAL RESULTS FOR THE PERIOD ENDED 31st MARCH, 2011
S.No.
1.
2.
3.
4.
5.
Particulars
Interest Earned ( a+b+c+d )

a) Interest/discount on advances/bills
b) Income on Investments
c) Interest on Balances with RBI & other
Inter Bank Funds
d) Others
Other Income
TOTAL INCOME (1+2)
Interest Expended
Operating Expenses (i+ii)
(i) Employees' Cost
(ii) Other operating expenses
6.
TOTAL EXPENSES (4+5)

(excluding provisions & contingencies)
7.
Operating Profit (3-6)

(Profit before Provisions & Contingencies)
Provisions (other than tax) and contingencies
Exceptional items
8.
9.
10.
11.
12
13
14
15
16
17
18
19
Profit (+)/Loss (-) from ordinary activities

before tax (7-8+9)
Tax Expense (Including FBT)
Less : Minority Interest
Add : Share of earnings in Associates
Net Profit (+)/Loss(-) from ordinary
activities after tax (10-11-12-13)
Extraordinary items (net of tax expense)
Net Profit (+)/Loss(-) for the period (14-15)
Paid up equity Share Capital (Face value Rs.10/-each )
Reserves excluding revaluation reserves

Analytical Ratios
(i) Share holding of Govt. of India (%)
(iia) Capital Adequacy Ratio (%) as per Basel-I
(iib) Capital Adequacy Ratio (%) as per Basel-II
Quarter Ended (Solo)

31.03.2011 31.03.2010
AUDITED
Rs. In lacs
Year Ended (Solo)
31.03.2011 31.03.2010
AUDITED
744029
590407
147246
2223
558473
431349
122125
3075
2698648
2110455
563755
8420
2142209
1667717
455605
14921
4153
114536
858565
441128
166684
112925
53759
607812
1924
87605
646078
310968
110009
65317
44692
420977
16018
361258
3059906
1517914
636422
446110
190312
2154336
3966
345731
2487940
1294402
476192
312114
164078
1770594
250753
225101
905570
72793
0
177960
62186
8145
171060
57870
NA
NA
120090
Year Ended (Consolidated)

31.03.2011
31.03.2010
2755124
2193757
2156535
1702149
469118
16658
572736
8438
17415
5832
349817
365536
3120660
2543574
1550668
1323001
644967
482391
449393
195574
314129
168262
2195635
1805392
717346
925025
738182
249198
0
656372
142150
15282
590478
255605
0
143725
0
669420
594457
57557
NA
NA
113503
213022
NA
NA
443350
199943
NA
NA
390535
217861
2191
8105
205418
1591
9809
457473
397257
0
120090
31681
1972099
0
113503
31530
1591562
0
443350
31681
1972099
0
390535
31530
1591562
0.00
457473
397257
31681
2082193
31530
1689546
58.00
11.76
12.42
57.80
12.97
14.16
58.00
11.76
12.42
57.80
12.97
14.16
12.29
13.01
13.70
14.82
38.08
38.08
36.00
36.00
140.60
140.60
123.86
123.86
145.08
145.08
125.99
125.99
437939
203863
1.79
0.85
1.34
321441
98169
1.71
0.53
1.58
437939
203863
1.79
0.85
1.34
321441
98169
1.71
0.53
1.44
133061200
133061200
133061200
133061200
42.00
42.20
42.00
42.20
(iii) Earnings per Share (EPS) not annualized in Rs.
(a) Basic & diluted EPS before extraordinary items

(b) Basic & diluted EPS after extraordinary items
(iv) NPA Ratios:
(a) Amount of gross non-performing assets
(b) Amount of net non-performing assets
(c) % of gross NPAs
(d) % of net NPAs
(v) Return on Assets ( Annualised) %
20
21
a)
b)
Public Shareholding
(i) No. of Shares
(ii) Percentage of Share holding
Promoters and Promoter Group Share Holding
Pledged/Encumbered
--Number of shares
--Percentage of shares(as % of the total
shareholding of promoter & promoter group)
share capital of the bank)
Non-Encumbered
--Number of shares
shareholding of promoter & promoter group)
share capital of the bank)
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
183750957
182241300
183750957
182241300
100%
100%
100%
100%
58.00%
57.80%
58.00%
57.80%
As on 31.03.11
(Solo)
As on 31.03.10 (
Solo)
Rs. In lacs
Foot Note To The Financial Results
CAPITAL & LIABILITIES
Capital
Reserves & surplus
Minority Interest
Deposits
Borrowings
Other Liabilities and Provisions
TOTAL
ASSETS
Cash & Balances with Reserve Bank of India
Balances with Banks & Money at Call & Short Notice
Investments
Advances
Fixed Assets
Other Assets
TOTAL
31681
2119174
0
31289873
3158969
1232827
37832524
2377689
591432
9516235
24210667
310559
825942
37832524
31530
1740762
0
24932980
1926236
1031769
29663277
1832757
514599
7772446
18660121
251347
632007
29663277
As on 31.03.11
(Consolidated)
31681
2229785
30129
31623193
3463850
1249743
38628381
2379119
630011
9691128
24774658
315048
838417
38628381
As on 31.03.10
(Consolidated)
31530
1838744
22706
25145766
2276294
1041902
30356942
1833478
591591
7925388
19111085
253141
642259
30356942
SEGMENT REPORTING FOR THE QUARTER/YEAR ENDED 31ST MARCH 2011
(Rs. in lacs)
PART A: BUSINESS SEGMENTS
S. Particulars
No.
Quarter Ended
Standalone
31.03.11
31.03.10
(Audited) (Audited)
Year Ended
Standalone
31.03.11
31.03.10
(Audited) (Audited)
Year Ended
Consolidated
31.03.11
31.03.10
(Audited)
(Audited)
i.
Segment Revenue
a) Treasury
b) Corporate/Wholesale Banking
c) Retail Banking
d) Other Banking Operations
Total
ii. Segment Results
a) Treasury
c) Retail Banking
Total
iii. Unallocated Expenses
iv. Operating Profit
v. Provision for Tax
vi. Extraordinary Items
vii. Share of Earnings in Associates
(Net)
viii. Minority Interest
ix. Net Profit
Other Information:
x. Segment Assets
a) Treasury
c) Retail Banking
Sub Total
e) Unallocated Assets
Total Assets
xi. Segment Liabilities
a) Treasury
c) Retail Banking
Sub Total
e) Unallocated Liabilities
Total Liabilities
177468
436787
231373
12937
858565
144218
310201
176652
23152
654223
638209
1395672
951006
75019
3059906
587825
1012234
818443
84720
2503222
651345
1402132
986559
80624
3120660
590788
1022244
845225
85317
2543574
12287
166624
88459
4966
272336
21584
250752
57871
-------
29391
134344
81936
10244
255915
22669
233246
57557
-------
68096
529590
360861
28466
987013
81444
905569
213023
---------
77520
386974
312888
32400
809782
77154
732628
199943
-------
74357
535165
367130
29819
1006471
81445
925026
217861
----8105
77563
385751
319662
32360
815336
77154
738182
205418
---9809
---120090
---113504
----443350
---390536
2191
457473
1591
397257
9707049
18593732
8607689
592560
37501030
331494
37832524
7945439
13864693
6611931
889648
29311711
351567
29663278
9707049
18593732
8607689
592560
37501030
331494
37832524
7945439
13864693
6611931
889648
29311711
351567
29663278
9925690
18771848
8969263
606953
38273754
354627
38628381
8208534
14051736
6845169
896967
30002406
354536
30356942
9214872
17650973
8171253
562516
35599614
82054
35681668
7548285
13171664
6281432
845179
27846560
44426
27890986
9214872
17650973
8171253
562516
35599614
82054
35681668
7548285
13171664
6281432
845179
27846560
44426
27890986
9396516
17892955
8395543
577553
36262567
104348
36366915
7762269
13386669
6403286
847392
28399616
87052
28486668
Note:
1. Segment Liabilities are distributed in the ratio of their respective Segment Assets.
2. As the operations outside India are less than the threshold limit of 10%, secondary segment
information has not been required to be furnished.
NOTES
1.
The above financial results have been reviewed by the Audit Committee and
approved by the Board of Directors in their meetings held on 04.05.2011. The
same have been subject to audit by the Statutory Central Auditors of the bank, in
line with the guidelines issued by the Reserve Bank of India and as per the
requirement of Listing agreement with Stock Exchanges.
2.
The financial results have been prepared following the same accounting policies
and practices as those followed in the annual financial statement for the year
ended 31st March, 2010.
The Financial results have been arrived at, after considering provisions for
standard assets, non-performing assets, restructured advances, depreciation on
investments as per Reserve Bank of India guidelines and gratuity, pension,
bonus, leave encashment, tax expenses and other usual and necessary
provisions on estimated basis.
4.
During the year, the Bank reopened the pension option for such of its employees
who had not opted for the pension scheme earlier. As a result of exercise of
which by 33982 employees, the bank has incurred a liability of Rs.2757.65
crores. Further during the year, the limit of gratuity payable to the employees of
the banks was also enhanced pursuant to the amendment to the Payment of
Gratuity Act, 1972. As a result the gratuity liability of the Bank has increased by
Rs.566.00 crores. These Liabilities are calculated on the basis of actuarial
valuation.
In terms of the requirements of the Accounting Standard (AS) 15, Employee
Benefits, the entire of Rs3323.65 crores .(Rs.2757.65 cr. + Rs.566.00 cr.) is
required to be charged to the Profit and Loss Account. However, the RBI has
issued a circular no. DBOD.BP.BC.80/21.04.018/2010-11 dated 9th February
2011, on "Re-opening of Pension Option to Employees of Public Sector Banks
and Enhancement in Gratuity Limits-Prudential Regulatory Treatment". In
accordance with the provisions of the said Circular, the Bank has charged off
Rs.664.73 crores. representing one-fifth of Rs. 3323.65 crores to Profit & Loss
Account for the year. In terms of the requirements of the aforesaid RBI circular,
the balance amount carried forward, i.e. Rs 2658.92 crores.(Rs3323.65 cr- Rs.
664.73 cr.) does not include any liability relating to separated/retired employees.
5.
The transitional liability as on 01.04.10 on account of other long-term employee

benefits such as Leave fare concession, Accumulating compensating sick leave,
Silver jubilee award etc. to the extent not charged was amounting to Rs. 87.40
crores. A sum of Rs. 43.80 crores representing one fifth of transitional liability
has been charged to Profit & Loss A/c of the current financial year ended 31st
March 2011. The balance-unrecognized liabilities of Rs. 43.60 crores have been
carried forward and the same will be charged off in the next year.
6.
During the year bank has allotted 15,09,657 equity shares of Rs. 10/- each at a
premium of Rs. 1208.82 to Govt. of India, as approved by the shareholders in an
Extra-Ordinary General Meeting. The total amount received by the Bank on this
account is Rs.184 crores. Consequently the Government share holding has
increased from 57.80% to 58.00%
7.
The Board of Directors have recommended dividend of Rs.22 /- per equity share
of Rs. 10 each ( @ 220% of the paid up capital of the bank) for the year.
8.
Figures of the previous period have been regrouped / rearranged / re-classified

wherever considered necessary, to make them comparable.
9.
Position of complaints from investors as on 31.03.2011:

(a)Complaints pending at the beginning of the current quarter
(b)Complaints received during the quarter
(c)Complaints disposed off during the quarter
(d)Complaints pending as on 31.03.2011 (all since redressed)
(Rakesh Sethi)
Executive Director
(M V Tanksale)
Executive Director
(K R Kamath)
Chairman & Managing Director
Place: New Delhi
Date: 04.05.2011
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Financial Results MARCH2011

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PUNJAB NATIONAL BANK

Interest Earned ( a+b+c+d )

TOTAL EXPENSES (4+5)

Operating Profit (3-6)

Profit (+)/Loss (-) from ordinary activities

Reserves excluding revaluation reserves

Quarter Ended (Solo)

Year Ended (Consolidated)

(iii) Earnings per Share (EPS) not annualized in Rs.

(a) Basic & diluted EPS before extraordinary items

SEGMENT REPORTING FOR THE QUARTER/YEAR ENDED 31ST MARCH 2011

The transitional liability as on 01.04.10 on account of other long-term employee

Figures of the previous period have been regrouped / rearranged / re-classified

Position of complaints from investors as on 31.03.2011:

Place: New Delhi

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