Punjab National Bank

Mehul Choksi's Rs 2,565.9 crore properties set for auction after court nod

A Mumbai court has approved the auction of Mehul Choksi's Rs 2,565.9 crore assets, seized by the ED in the PNB fraud case. The assets, including flats and factories, will now be liquidate

We may lend to a telco if it gets AAA rating: PNB MD & CEO Atul Kumar Goel

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

PNB Q2 results: PAT jumps to Rs 4,306 cr, total income at Rs 34,447 cr

Punjab National Bank (PNB) on Monday reported more than two-fold jump in its profit at Rs 4,306 crore in the second quarter ended September 2024. The state-owned lender had earned a net profit of Rs 1,756 crore in the same quarter in the previous financial year. Total income increased to Rs 34,447 crore during the quarter under review against Rs 29,383 crore in the same quarter last year, PNB said in a regulatory filing. The bank reported an interest income of Rs 29,875 crore during the quarter, higher than Rs 26,355 crore in the same period a year ago. As regards asset quality, the bank witnessed improvement with gross Non-Performing Assets (NPAs) declining to 4.48 per cent of the gross loans by the end of September 2024 from 6.96 per cent a year ago. Similarly, net NPAs or bad loans moderated to 0.46 per cent from 1.47 per cent at the end of the second quarter of the previous fiscal. On a consolidated basis, the bank's profit more than doubled to Rs 4,714 crore as against Rs 1,

PNB credit card offers discounts and cash backs for festival season

Cardholders may get discounts on consumer durables, travel bookings, eating out, food and grocery deliveries

13 candidates in fray for PNB top job; FSIB may hold interviews next month

Among the contenders are two executive directors (EDs) from Bank of Baroda, one ED each from Union Bank of India, Indian Overseas Bank, and Canara Bank, and several deputy MDs from SBI

PNB fixes floor price of Rs 109.16 per share for its share sale via QIP

State-owned Punjab National Bank (PNB) on Monday fixed a floor price of Rs 109.16 per share for its share sale through qualified institutional placement (QIP). The bank had taken board approval last year for raising up to Rs 7,500 crore via share sale in one or more tranches during 2024-25. The board approved and adopted the preliminary placement document together with the application form in connection with the issue, PNB said in a regulatory filing. It also approved the floor price Rs 109.16 per share based on the pricing formula as prescribed under Regulation 176 of the Sebi ICDR Regulations, it said. The bank may offer a discount of not more than 5 per cent on the floor price so calculated for the issue, it said. The issue price will be determined by the bank in consultation with the book running lead managers appointed in relation to the issue, it added.

Karnataka govt retracts order against SBI, PNB after Rs 22.67 cr repayment

In August, the Karnataka government issued a directive to all departments, boards, corporations, universities, local authorities, and PSUs to discontinue ties with the two banks

Karnataka govt pauses decision for 15 days on PNB and SBI request

The statement further noted that on August 16, 2024, both banks submitted written representations to the government, requesting an additional 15-day period to resolve the matter

SBI, Punjab National Bank in talks with Karnataka to resolve issues

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

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