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Punjab National Bank(PNB) has decided to raise its benchmark prime lending rate(PLR) by 100 basis points to 14 per cent with effect from 1st of next month, being country’s second largest public sector bank by assets PNB decided to hike its deposit rate by 75-100 basis oints across various maturities to make them more competitive in the market.

These decisions have been taken today looking at the extraordinar situation prevailing and to provide better returns to the depositors of PNB with the inflation rates at 12 per cent PNB said that they will not be able to induce the people to save unless they increase teh deposit rates.

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Punjab National Bank, 01-OCT-2007 to 31-DEC-2007 (Third Quarter) Results: 

Punjab National Bank has announced the non-consolidated Results for the quarter ended on 31-DEC-2007 as follows: Net Income of Rs.4119.57 crores for the quarter ending on 31-DEC-2007 with Net Profit of 541.45 crores with an EPS of 17.17.  Other Income was at 483.44 crores.

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