New Delhi, Jan. 19 -- Punjab National Bank on Monday reported its highest-ever quarterly profit, posting a 13 per cent rise in net profit to Rs 5,100 crore for the October-December quarter, driven by a significant improvement in asset quality.

The country's second-largest public sector lender earned Rs 4,508 crore in the corresponding quarter last year.

Managing Director and CEO Ashok Chandra said the bank is targeting quarterly profits exceeding Rs 5,000 crore going forward.

The bank's total income grew to Rs 37,253 crore from Rs 34,752 crore year-on-year, while interest income climbed to Rs 32,231 crore from Rs 31,340 crore, according to a regulatory filing.

However, Net Interest Income declined 4.5 per cent to Rs 10,533 crore in th...