Page 24 - Punjab National Bank

Nirav Modi fraud-hit PNB aims to grow its total business by 10.8%

Nirav Modi fraud-hit Punjab National Bank (PNB) aims to grow its total business by 10.8 per cent and close the current fiscal with to Rs 12 lakh crore on the back of increased focus on CASA mobilisation. The board of the bank in a meeting held last Saturday, deliberated on the future roadmap for the bank and implementation of the finance ministry's Enhanced Access & Service Excellence (EASE), PNB CEO Sunil Mehta told PTI. "The bank will aim at growing by 10.8 per cent year-on-year to aim at total business of Rs 12 lakh crore in FY '19. Similarly, the bank has planned 13.7 per cent growth in CASA (current account savings account) to aim for an amount of Rs one lakh crore," he said. Over the last few weeks, the bank has focused on changing and improving its systems and processes to reduce customers' risk and further strengthen the bank, he added. This includes increased intervention of technology, segregation of responsibilities, introduction of new verticals and realignment of ...

Despite Rs 130-bn scam, PNB 's domestic business crosses Rs 10 trn in FY18

PNB's domestic deposits grew 6.2% to Rs 6 trillion in 2017-18

PNB appoints Lingam Venkata Prabhakar as executive director for 3 years

He has been appointed for a period of three years with effect from the date of taking over charge of the post on or after March 1

Bihar youth commits suicide as Punjab National Bank refuses to give loan

District police official Vidhassgar said police has begun an investigation from all angles

Punjab National Bank's total business crosses Rs 11 trillion

Stock of PNB closed 6% higher at Rs 176.75 on BSE

Forced insolvencies to save Punjab National Bank from large hair cuts

The country's soured-debt ratio is the worst among the world's largest economies, data compiled by the IMF show

Punjab National Bank trades firm after QIP launch

The stock was up 1% at Rs 175, was the largest gainer among Nifty PSU Bank index at 11:59 AM.

PNB Housing Finance announces OFS of about 1 bn shares at Rs 1,325 apiece

Earlier this month, PNB Managing Director and Chief Executive Officer Sunil Mehta said the bank has a headroom to sell up to 9 per cent stake in the subsidiary.

Punjab National Bank up 8% as Q2 profit beats estimates

The stock moved higher by 8% to Rs 212 after the bank reported a better than expected net profit at Rs 561 crore in September quarter.

Punjab National Bank Q2 profit up 2%, beats estimates

Analysts on average had expected a net profit of Rs 433 crore

PNB plans to raise up to Rs 5,000 cr from market to fund growth

The bank did not give say whether it would be raised by diluting government equity or issuing Additional Tier-1 bonds

Punjab National Bank cuts MCLR, base rate by up to 0.25%

It has trimmed the MCLR by 0.25 per cent each for overnight to 7.75 per cent

PNB customers to pay more charges for non-credit services

All charges are exclusive of GST & attracts a charge of 18%, up 15% from previous tax regime charges

PNB board approves plan to raise Rs 3,000 cr equity capital

PNB said its board of directors have called general meeting of shareholders on Sept 12

Why some brokerages have turned positive on Punjab National Bank

A week after Nomura turned positive of Bank of Baroda, it is now the turn of Punjab National Bank (PNB) to enjoy a rating upgrade from the foreign brokerage. Nomura upped its rating on PNB from neutral to buy. With the price target of Rs 180, the potential upside is about 26 per cent even after factoring in for Thursday's 4.6 per cent rally. In a report dated July 5, the analysts note that after the 24 per cent correction in the past two months, incremental risk-reward is turning favourable for PNB. "Our adjusted book valuation of 0.55x FY19 book factors in Rs 79,000 crore of total stress vs gross non-performing assets (NPA) of Rs 55,400 crore in FY17 and adequately captures any asset quality risks," the analysts add. In fact, analysts at Prabhudas Lilladher and Motilal Oswal also have the same opinion on PNB's asset quality issues. "Significant stress is being recognised over last several quarters, and now resolution in key sectors like steel, power, construction and roads remains a .

PNB's Q4 points to moderation in NPAs

Stock up 5% on Tuesday, but analysts concerned over lack of clarity on critical aspects

PNB Q1 net profit up Rs 262 crore as bad loans drop, shares up by 4.4%

The company's market valuation also rose by more than Rs 1,617 crore

PNB loans to get cheaper as bank cuts MCLR rates from May 1

Revised lending rate will be 8.35% for one-year credit, as against 8.45% currently

Punjab National Bank puts up for sale bad loans worth Rs 295 cr

Bank has identified assets worth Rs 1,800 cr that will be sold by month-end to recover bad loans

Punjab National Bank raises Rs 1,500 cr tier-I capital via bonds

The bond holders will get yield of 8.95% per annum, payable semi-annually