Page 9 - Punjab National Bank

Judgement a reminder that fugitives can't be considered above process: CBI

The High Court of London (United Kingdom) on Wednesday dismissed the appeal of Nirav Modi, who is wanted in India to face money laundering and fraud cases.

Nirav Modi loses appeal, UK rules suicide risk does not bar extradition

The 51-year-old fugitive diamond merchant has the option of further appeals in the UK and European courts and the process to bring him back to stand trial in India is unlikely to be a speedy one

PNB to transfer bad loans worth Rs 20,008 cr from 62 accounts to NARCL

NARCL has been set up by commercial banks to aggregate and consolidate stressed assets for their subsequent resolution

PNB Q2 net profit slips 63% to Rs 411.3 crore as NPA provisions rise

PNB's total income during July-September 2022 was Rs 23,001.3 crore as against Rs 21,262.3 crore a year ago

PNB Q2 net profit falls 63% to Rs 411 crore on higher provisions

State-owned Punjab National Bank (PNB) on Tuesday reported a 63 per cent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans. The bank had posted a net profit of Rs 1,105 crore in the year-ago period. Total income in the second quarter of the current fiscal increased to Rs 23,001.26 crore as against Rs 21,262.32 in the July-September period a year ago, PNB said in a regulatory filing. The lender's interest income also rose to Rs 20,154 crore from Rs 17,980 crore in the same quarter a year ago. The gross Non Performing Assets (NPAs) declined to 10.48 per cent of the gross advances from 13.36 per cent earlier. In absolute terms, the gross NPAs or bad loans stood at Rs 87,034.79 crore at the end of the second quarter of FY23, compared to Rs 1,00,290.85 crore a year earlier. The net NPA too declined to 3.80 per cent as against 5.49 per cent. However, provisions for bad loans increased to Rs 3,555.98 crore in the

After contraction, PNB Housing Finance eyes Rs 1 trillion home loan books

It disbursed loans worth Rs 3,594 crore in Q2FY23, up from Rs 2,961 crore in Q2FY22

RBI reviewing regulation for governing non-core business of banks

The modifications in relation to banks' non-core business could be made by amending the Banking Regulation Act

State Bank of India, IDBI Bank hike retail fixed deposit rates

For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier

PNB launches WhatsApp banking for customers and non-customers

The WhatsApp banking service will be available 24x7, including holidays, on both android and iOS-based mobile phones

Stocks to Watch: Hero Moto, Adani Enterprises, Zydus Life, Vodafone Idea

Stocks to Watch today: Hero MotoCorp said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles

Stocks to Watch: Wipro, SBI, Reliance, SpiceJet, PNB, Sugar, Asian Hotels

Stocks to Watch Today: In the F&O space, Ambuja Cements, Can Fin Homes, Delta Corp, Escorts, PVR and RBL Bank are in F&O ban period on Thursday.

Canara Bank, PNB likely to issue Rs 3,000-crore AT1 bonds this week

AT1 issuances are likely to cross Rs 20,000 crore mark as banks rush to tap capital markets

New rules from Sept 1 2022: LPG prices, expressway toll taxes and more

New rules are introduced on September 1, Thursday 2022. Banking norms, gas cylinders, insurance premiums and property prices will be impacted. Read this detailed article to know more

Punjab National Bank to hike MCLR by 0.05% across tenors from Sep 1

Punjab National Bank has raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent across tenors from September 1, making most of the consumer loans costlier. The benchmark one-year tenor MCLR, which is used to price most consumer loans such as car, auto and personal, will be at 7.70 per cent against the existing 7.65 per cent, PNB said in a regulatory filing on Wednesday. The three-year MCLR stands at 8 per cent, up by 0.05 per cent. Among others, the rate of one-month, three-month and six-month tenor will be in the range of 7.10-7.40 per cent. The MCLR on overnight tenor will be 7.05 per cent against 7 per cent. Earlier this month, the state-owned lender increased the repo-linked lending rate to 7.90 per cent, up by 0.50 per cent, with effect from August 6 following the increase in repo rate by the RBI.

BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers

Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms

SBI, Bank of Baroda may look to raise Rs 8,000 cr through bond sale

While SBI may opt for Rs 4,000-crore tier-II bond sale, Bank of Baroda looks to issue AT-1 bonds worth Rs 3,000-4000 crore in tranches

ICICI Bank, PNB, Bank of Baroda lift loan rates post RBI rate hike

RBI's Monetary Policy Committee raised the repo rate to 5.40 per cent from 4.90 per cent, taking the benchmark policy rate to a three-year high

SBI likely to issue Rs 7,000-cr additional tier-I bonds by August-end

Last month, SBI's board had provided approval for raising up to Rs 11,000 crore via additional tier-I and tier-II bonds to meet regulatory requirements and support business growth

PNB raises asset quality guidance, aims to lower net NPA to 3.5% by March

Gross NPAs reduced to 11.27% in April-June quarter from 14.33% a year ago; eight accounts worth Rs 2,486 cr will be transferred to NARCL

Stocks to watch: HDFC, Sun Pharma, Dr Reddy's, STFC, TVS Motor, SpiceJet

Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.