Punjab National Bank Q2 profit may see 142% growth: Poll

Net interest income, the difference between interest earned and interest expended, may rise by 10 percent to Rs 4,421 crore in the quarter ended September 2014 compared to Rs 4,015.5 crore in corresponding quarter of last fiscal.

Public sector lender Punjab National Bank , which will announce its earnings on Tuesday, is expected to report a massive 142 percent growth in second quarter profit at Rs 1,224 crore compared to low base of Rs 505.5 crore in same quarter last year.

In Q2FY14, the bank's profit fell 53 percent year-on-year to Rs 505.5 crore due to 77 percent jump in provisions.

Factors to watch out for are slippages from the restructured book and net interest margin. In Q1FY15, 55 percent of slippages were from the restructured book.

During the quarter (in an interaction with analysts), the bank said there would be 10 basis points improvement in net interest margin to 3.5 percent. In Q1FY15, NIM recovered 20 basis points Q-o-Q to 3.42 percent.

The poll suggests that consolidated loan book growth (with international book) may be 15 percent while domestic loan growth is expected to be 10-12 percent for quarter, in line with industry.

In Q1FY15, domestic advances were up 13.4 percent Y-o-Y led by agriculture, industry and retail while overseas advances grew 26.3 percent.

During the quarter, the bank cut interest rates for BULK deposits for over one month to one year by 25 basis points, and approved stock split of 1:5 and resolution to raise funds via QIP/FPO/Rights.

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