The Board of Directors Bank of Punjab (BoP) in its meeting on Thursday proposed an interim stock dividend for the year ending December 31, 2004 @ 20 percent for its shareholders.
The board also approved the half-yearly Bank accounts for the period ended June 30, 2004, says a press release of BoP issued here Friday.
Under the able management of Managing Director Hamesh Khan, the Bank earned a pre-tax profit of Rs 1,117 million during the 2nd half year ended June 30, 2004 as against Rs 543 million for 1st half of the year 2003; reflecting an increase of 106 percent.
The earning per share for the half year works out to be Rs 7.07 as against Rs 3.24 for the corresponding period last year. Deposits and advances of the bank grew by 58 percent and 121 percent to Rs 44,339 million and Rs 26,845 million, respectively, over June 30, 2003.
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