Punjab National Bank reported a 28.4% rise in net profit to Rs. 1068 crore for the quarter ended June 2010 compared with Rs. 832 crore in the corresponding period last year. However on a sequential basis, PNB’s net profit declined 5.9% from Rs. 1135.0 crore as trading profits declined and higher provisioning affected the bottom line. The loan book grew at a robust 24.6% yoy while its deposits grew by 16.6% yoy. CASA ratio at 40.9% was up by 260 bps yoy. The cost to income ratio reduced substantially by whopping 471 bps to 39.9% in Q1FY10 on back of lower interest and operating expenses.