Page 8 - Punjab National Bank

ACC, Nykaa, HDFC AMC and Muthoot Fin likely to be dropped from Nifty 100

Jindal Steel and Power, Punjab National Bank, TVS Motor, Tube Investments and Zydus Lifesciences are expected to get added to the index

PNB to infuse Rs 72.82 cr in its Bhutan subsidiary Druk via rights issue

State-owned Punjab National Bank on Thursday said it proposed to infuse Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue. The board has approved participation in the proposed rights issue of Druk PNB Bank Ltd (DPNBL), an overseas subsidiary of the bank, for an amount of Rs 72,82,80,000, PNB said in a regulatory filing. PNB holds 51 per cent in the subsidiary as of now. DPNBL was incorporated on December 31, 2008, with FDI participation, it said. The indicative time period for completion of the rights issue is by the end of August 2023, it noted. The proposed rights issue of DPNBL of Bhutan is at a premium of Rs 7 (face value of Rs 10) -- Rs 17 per share, the filing said. After participation in the proposed rights issue of DPNBL, the Bank's shareholding will remain the same at 51 per cent.

Punjab National Bank to raise $1.5 bn through bonds in one or two tranches

Indian state-run lender Punjab National Bank said on Wednesday it would raise up to 120 billion rupees ($1.46 billion) in one or two tranches, through the issue of bonds

PNB raises Rs 974 cr via AT1 bonds against indicative amount of Rs 2,000 cr

Hardening yields drives decision to raise lower amounts; Bond market sources said coupon was firmed up at 8.75%

Indian banks resilient; AT1 bond market to remain unaffected: Report

During FY23, HDFC Bank was the only private sector lender that raised capital using AT1 bonds

PNB, IOB, DCB bank to offer AT1 bonds; may have to offer premium rates

It is important to note that AT1 bonds are unsecured, perpetual bonds that banks issue to improve their core capital base

Bank stocks can slide more; stay away for now: Analysts

Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time

PNB signs deal with warehousing body for financing against e-NWR

Partnership will give farmers information about negotiable instrument meant to assist rural economy

Slippages will gradually dip every quarter: PNB chief Atul Kumar Goel

In a Q&A, the lender's MD & CEO says the bank's NPA ratio could improve further as it doesn't have any large loan that needs to be regarded as bad

PNB hikes FD interest rates by up to 30 basis points; check latest rates

Additionally, for FDs maturing between two and three years, the interest rates have been increased by 25 bps to 7% from 6.75%

'No worry': Punjab National Bank allays concerns about Adani group exposure

Bank reports 44.2% decline in Q3 net profit as NPA provisions, costs rise

Punjab National Bank has Rs 7,000 crore exposure to Adani Group: MD

Punjab National Bank has a total exposure of $859.30 million to Adani Group, but there is currently no worry pertaining to those accounts, the managing director and chief executive said

Punjab National Bank reports Q3 net profit down 44% to Rs 629 crore

Punjab National Bank (PNB) on Monday reported a 44 per cent decline in standalone net profit at Rs 629 crore in the third quarter ended December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. However, total income during October-December 2022 increased to Rs 25,722 crore as against Rs 22,026 crore in the year-ago period, PNB said in a regulatory filing. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 9.76 per cent as compared to 12.88 per cent at the end of third quarter of previous fiscal. At the same time, the net NPAs eased to 3.30 per cent as against 4.90 per cent in the same period a year ago. However, provisions for bad loans increased to Rs 3,908 crore during the quarter as against Rs 3,654 crore a year ago. The capital adequacy ratio rose to 15.15 per cent in the December quarter as against 14.91 per cent.

PNB raises Rs 582 cr through Basel III compliant Additional Tier-I bonds

Public sector lender Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on a private placement basis. The bank has issued and allotted Basel III compliant Additional Tier I bonds at a coupon of 8.40 per cent per annum, aggregating to Rs 582 crore on a private placement basis, the bank said in a regulatory filing on Friday. The bank said the non-convertible taxable bonds will qualify as Tier I capital.

CBI books ex-PNB manager, 2 companies in Rs 168.59 crore fraud case

CBI on Thursday registered a case on complaint from Punjab National Bank (PNB) against its former manager, and others including two private companies, for allegedly committing a fraud of Rs 168.59 cr

Not part of any negotiations': UTI AMC on Tata acquisition reports

There were similar reports in August 2022 and UTI AMC had then denied having any knowledge about it

BS BFSI Insight Summit: India's biggest BFSI Summit to kick off on Dec 21

The country's biggest BFSI Summit will feature some of the most prominent voices in India's economic landscape, including RBI Governor Shaktikanta Das, Deputy Governors, and SBI chairman

Nirav Modi loses bid to go to UK Supreme Court against extradition to India

Fugitive jeweller and designer had fled India in early 2018, days before the details of his alleged role in large-scale fraud at the Punjab National Bank became public

Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital

The cost of paying coupon on tier-1 bonds, a form of debt, is less than servicing equity capital

Buoyed by firm demand, HDFC Bank mulls fresh Rs 5,000-cr Tier 2 bond sale

The quantum raised through Tier 2 bonds is set to rise much further in coming days as Axis Bank is slated to sell Rs 12,000 crore of such instruments on Friday