Punjab National Bank (PNB) announced that its board will meet on 29 March 2023 to consider the proposal for raising capital through bonds.
A meeting of Board of Directors of the bank is scheduled on Wednesday, 29 March 2023, for inter alia considering the proposal for raising of capital for FY 2023-24 through issuance of Basel-III compliant additional tier-1 bonds and tier-II bonds, in one or more tranches, the bank said in exchange filing.Punjab National Bank is engaged in the business of treasury, corporate/wholesale banking, retail banking, other banking operations. As on 31 December 2022 Government of India held 73.15% stake in the bank.
Punjab National Bank reported 44.19% decline in net profit of Rs 628.88 crore on 16.78% rise in total income to Rs 25,772.40 crore in Q3 FY23 over Q3 FY22.
The scrip declined 1.02% to Rs 46.39 on the BSE.
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