New Delhi: Punjab National Bank today said it is confident of achieving the targeted 20 per cent growth in net profit for 2007-08.

"We are confident of meeting the profit target," Punjab National Bank Chairman and Managing Director K C Chakrabarty told reporters here.

Earlier, Chakrabarty had said the bank would be posting profits in the range of Rs 1,800-1,900 crore during 2007-08.

The bank would maintain net interest margin within 3.5-3.6 per cent for 2007-08, he said, adding that it would not reduce deposit rate in the near future.

PNB is scheduled to announce its results for 2007-08 tomorrow.
Source : PTI