PNB board to mull fund raising via bonds

Punjab National Bank (PNB) announced that its board will meet on 29 March 2023 to consider the proposal for raising capital through bonds.

A meeting of Board of Directors of the bank is scheduled on Wednesday, 29 March 2023, for inter alia considering the proposal for raising of capital for FY 2023-24 through issuance of Basel-III compliant additional tier-1 bonds and tier-II bonds, in one or more tranches, the bank said in exchange filing.

Punjab National Bank is engaged in the business of treasury, corporate/wholesale banking, retail banking, other banking operations. As on 31 December 2022 Government of India held 73.15% stake in the bank.

 

Punjab National Bank reported 44.19% decline in net profit of Rs 628.88 crore on 16.78% rise in total income to Rs 25,772.40 crore in Q3 FY23 over Q3 FY22.

The scrip declined 1.02% to Rs 46.39 on the BSE.

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