Page 20 - Punjab National Bank

PNB clarifies no proposal for changing bank's name after UBI flags issue

This statement comes days after a UBI official said that the government is expected to announce the new name and logo of the merged bank which will become operational from April 1, 2020

PNB chief expects a comeback in FY21 with 8-10% credit growth post merger

Merged entity likely to report 8-10% credit growth, better asset quality next fiscal; equity offering by December

Market Wrap, Feb 4: Sensex skyrockets 917 pts, Nifty nears 12K

Barring HUL and Bajaj Auto, rest 28 stocks in the 30-share Sensex index ended in the green

Punjab National Bank logs loss of Rs 492 cr in Q3, asset quality improves

In terms of ratio, the GNPA for the recently concluded quarter improved sequentially, but was flat YoY, to 16.3 per cent. The NNPA ratio was 7.18 per cent.

PNB rises 3% ahead of Q3 results, nod to raise Rs 1,000 crore via bonds

Among the key monitorables, analysts would watch out for an update on integration and merger of United Bank of India and Oriental Bank of Commerce with PNB.

Weekly stock picks by Religare Broking: Buy Aurobindo Pharma, Ramco Cements

Currently, Ramo Cements' stock is hovering in a range, after a sharp up move, offering fresh buying opportunity to those who missed the chance earlier

CBI gets nod for supplementary extradition plea against Nirav Modi

The court posted the matter for further hearing on January 13

NCLT route ruled out for Suzlon Energy, lenders to set up escrow account

Barring one bank, all lenders are ready to convert more than 50% of the total debt into new debt

Bank consolidation: Non-anchor PSBs urge govt for new name after merger

United Bank of India has written to the Government seeking a new name for the entity formed out of its merger with Punjab National Bank and Oriental Bank of Commerce

PNB raises Rs 1,500 cr via bonds, funds to be used for business expansion

The lender has issued 15,000 redeemable Basel III compliant Tier II bonds in the nature of debenture of Rs 10 lakh each, it said

Top headlines: Cabinet nod to CDS, ex-Maruti MD accused of fraud, and more

CBI has accused ex-Maruti MD Jagdish Khattar of fraud, while the Union Cabinet has approved the creation Chief of Defence Staff

CBI accuses ex-Maruti MD Jagdish Khattar, his firm of Rs 110-cr bank fraud

Jagdish Khattar and his company accused of dishonestly and fraudulently selling goods pledged to Punjab National Bank.

Lenders to textile firm Sintex Industries reject $1 billion revamp plan

Banks to Sintex Industries, led by Punjab National Bank, were expecting at least 50% recovery on loans.

PNB under-reported bad loans by Rs 2,617 cr in FY19: RBI report

In a regulatory filing on Saturday, PNB said the divergence in gross non-performing assets (NPAs) assessed by the central bank stood at Rs 2,617 crore in FY19

PNB scam: Special court declares Nirav Modi a fugitive economic offender

He is the second businessman after Vijay Mallya to be declared a fugitive economic offender under provisions of the Fugitive Economic Offenders Act which came into existence in August last year

PNB case: Nirav Modi to appear before UK court on Jan 2 via videolink

The 48-year-old had moved yet another bail application last month with an 'unprecedented' house arrest guarantee

Loan melas a short-term salve, may come back to bite NPA-hit banks

Banking and policy experts said government lending schemes had a track record of skimping on due diligence, leading to higher-than-normal levels of bad loans

PSBs report Rs 95,700-crore frauds: Are banking frauds on the rise?

State Bank of India reported fraud of ₹25,400 crore followed by Punjab National Bank of ₹10,800 crore and Bank of Baroda of ₹8,300 crore

PNB, Union Bank get in-principal nod from govt for proposed merger

According to this, United Bank of India and Oriental Bank of Commerce will be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

CBI said to be filing fresh charges in $2-bn PNB scam involving Nirav Modi

Police filed their first charges in May last year and at the time detailed only some of the alleged fraudulent transactions to Modi and his associates