Page 4 - Punjab National Bank

Karnataka directs all govt depts to suspend transactions with SBI, PNB

One incident involved PNB's Rajajinagar branch, where the Karnataka State Industrial Board had fixed deposits of Rs 25 crore, but PNB released only Rs 13 crore on maturity, citing pending court cases

PSU Banks in focus: BoB, UBI among 5 stocks trading at key support levels

Shares of Bank of Baroda, Union Bank of India and Indian Bank can potentially rally up to 15% if these support levels are held; check key support and resistance levels for 5 PSU bank stocks here.

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments

Jigar S Patel of Anand Rathi recommends buying these three stocks today

Recently, PNB has found a support level, forming a bottom around the Rs 114-116 range. This suggests that stock has likely reached a point where selling pressure is reducing & buyers are stepping in.

Nifty PSU Bank index surges 3%; PNB soars 7% on strong Q1 results

PSU Banks in focus post Q1 earnings: PNB, BoI, BoB, Uco Bank and IOB rallied over 3% each. SBI, Canara Bank, Union Bank of India, Indian Bank and Central Bank were up 2-3%.

MSMEs' 180-day repay period demand genuine: PNB MD & CEO Atul K Goel

Goel discussed the public sector lender's latest quarterly results and its expansion plans

PNB Q1FY25 results: Net profit jumps 159% to Rs 3,252 cr, NII up 10.23%

PNB Q1FY25 results: Gross Non-Performing Asset (GNPA) ratio of the bank improved by 275 basis points (bps) on a Y-o-Y basis to 4.98 per cent as on June 24 from 7.73 per cent as on June 23

Banks to equity fundraise Rs 40,000 crore in H2FY25 to boost balance sheets

State-run banks Punjab National Bank and Bank of Maharashtra are leading the fundraising with both seeking Rs 7,500 crore each

PNB launches 'Safety Ring' to enhance security for internet, mobile banking

State-owned Punjab National Bank (PNB) on Tuesday introduced a new security feature 'Safety Ring' within its internet banking system and mobile banking system in response to the increasing number of cyber frauds. This mechanism provides an additional safety layer to minimise potential losses in case of unauthorised access by fraudsters, PNB said in a statement. Safety Ring is an optional feature that allows customers to set a daily transaction limit with respect to term deposits (TDs) on online closure or availing overdraft facility on TDs up to the set limit amount, it said. The limit set by the customer should be the consolidated digital channels limit up to which the customer can close the TD or avail overdraft facility on TD, it said. Once set, it said, the safety feature Safety Ring' ensures that TD cannot be closed, withdrawn, or used for loans (overdraft) beyond the customer-defined limit through any digital channels.

Bank of Baroda, PNB log slower deposit growth than industry trend in Q1

The outstanding deposits of Delhi-based PNB stood at Rs 14.08 trillion at the end of June 2024

RBI imposes a monetary penalty of Rs 1.32 crore on Punjab National Bank

The charges have been imposed after considering the oral submissions made in response to the show-cause notice sent by RBI to the bank

Buzzing stocks, July 5: PNB, Zomato, Ircon, Ujjivan SFB, Delhivery, UCO Bk

Stocks to Watch today, Friday, July 5, 2024: PNB's global loan book surged 12.7 per cent year-on-year (Y-o-Y) to Rs 10.3 trillion in the April-June quarter of FY25 (Q1FY25)

Process to select next Punjab National Bank chief to begin in July

Selection process for EDs in PSBs also starting soon

PNB to expand overseas footprint, to open representative office in Dubai

State-owned Punjab National Bank plans to open a representative office in Dubai, as part of its plan to expand its global footprint. The bank has got the board of directors' approval for opening a representative office in Dubai and the process is on for seeking regulatory clearance, PNB managing director Atul Kumar Goel told PTI. Hopefully, he said, the representative office should come up during the current financial year, if all regulatory approvals are in place. As on March 31, 2024, PNB had presence in six countries by way of two subsidiaries (London-UK and Bhutan), one joint venture (Nepal), two representative offices (Myanmar and Bangladesh). Talking about the strategy to improve profitability, he said, the focus would be on expanding retail, agriculture, MSME (RAM) portfolio, extending good corporate loans, controlling slippages and improving recovery. Besides, he said, the thrust would also be on improving the forex income and garnering higher fee income from selling ...

PNB MetLife appoints Sameer Bansal as MD, CEO; to succeed Ashish Srivastava

He joined the firm in 2007 and is currently serving as the Chief Distribution Officer

PNB to float Canara HSBC Life Insurance IPO, will divest 10% stake

Punjab National Bank (PNB) on Tuesday said it will sell 10 per cent stake in Canara HSBC Life Insurance Company by listing the insurer on the stock exchanges. Currently, PNB holds 23 per cent in the insurance firm. PNB's board in its meeting held today has accorded its approval for initiating the process of diluting 10 per cent stake of the bank in Canara HSBC Life Insurance Co Ltd, an associate company of the Bank, by listing the Company in Stock Exchanges (BSE/NSE) through Initial Public Offer (IPO). The decision is subject to regulatory approval, PNB said in a regulatory filing. HSBC and public sector Canara Bank are promoters of the life insurance company holding 26 per cent and 51 per cent, respectively. PNB is a shareholder with 23 per cent stake. Shares of PNB fell 15.80 per cent to close at Rs 115.35 on the BSE.

Legacy issues behind us, PNB on track to outperform competition: MD Goel

With legacy issues behind, Punjab National Bank (PNB) is on the right path to outpace the competition and achieve greater heights in terms of profitability during the current fiscal and subsequent years, the bank's managing director Atul Kumar Goel said. PNB topped the chart recording the highest profit growth of 229 per cent among the 12 public sector banks during the fiscal ended in March 2024. The bank's net profit increased over three-fold to Rs 8,245 crore compared to Rs 2,507 crore in the previous fiscal. Recalling the position of PNB three years ago, Goel said it was a laggard on many counts with one of the highest gross and net non-performing assets (NPAs) numbers among PSBs and Provision Coverage Ratio (PCR) was low. "Today you see my net NPA reduced to 0.7 per cent and even the PCR is more than 95 per cent. I am better than my peers," he told PTI in an interview. Going forward, he said, the net NPA would come down below 0.5 per cent and the net interest margin of around 3

Public sector banks' total profit jumps 35%, crosses Rs 1.4 trn in FY24

Public sector banks' cumulative profit crossed Rs 1.4 lakh crore in the financial year ended March 2024, recording a growth of 35 per cent over the previous year on a high base of Rs 1 lakh crore. The 12 Public Sector Banks (PSBs) together had earned a net profit of Rs Rs 1,04,649 crore in 2022-23. Out of the total profit of Rs 141,203 crore earned during the FY24, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on exchanges. SBI earned a profit of Rs 61,077 crore 22 per cent higher than the previous financial year (Rs 50,232 crore). In percentage terms Delhi-based Punjab National Bank had the highest net profit growth with 228 per cent to Rs 8,245 crore, followed by Union Bank of India with a 62 per cent rise to Rs 13,649 crore and Central Bank of India with a 61 per cent increase to Rs 2,549 crore. Among the banks which recorded over 50 per cent jump in net profit included Bank of India with a 57 per

No need to panic on draft infra guidelines: PNB MD & CEO Atul Kumar Goel

Goel spoke on the public sector lender's latest quarterly results and its expansion plans

Punjab National Bank seeks to close institutional share sale in 6 mths: CEO

Punjab National Bank's board had in December approved a Rs 7,500 crore ($898 million) fund raise through equity capital