Page 12 - Punjab National Bank

Punjab National Bank sets-up subsidiary to manage credit card business

State-run Punjab National Bank (PNB) has set up a wholly-owned subsidiary to manage its credit card business, the bank said on Wednesday. A wholly-owned subsidiary of the bank namely PNB Cards & Services Ltd has been incorporated on March 16, 2021, by the Registrar of Companies, Delhi, it said in a regulatory filing. The subsidiary will undertake the non-financial support services related to credit card business of the bank. The authorised capital of the company is Rs 25 crore and the paid-up capital is Rs 15 crore, PNB said. The number of outstanding credit cards at the end of December 2020 of PNB stood at over 4.3 crore (43,402,879), according to the RBI data. The value of transactions through credit cards was Rs 137.55 crore (Rs 13,755 lakh) at the point of sale (PoS) and Rs 1.17 crore (Rs 117 lakh) at the ATMs during the month. The number of transactions at PoS were 5,79,244 while at the ATMs the number of transactions through credit cards were 3,871 in December 2020. PNB ...

CBI books Shiv Vani Oil, two promoters for defrauding PNB of Rs 253 cr

Banks, NBFCs are estimated to have given Rs 3,587 crore to company accused of criminal conspiracy, cheating

CBI books Shiv Vani Oil, two promoters for defrauding PNB of Rs 253 cr

Banks, NBFCs are estimated to have given Rs 3,587 crore to company accused of criminal conspiracy, cheating

Winners' curse: Top bosses at PSBs see their term ending much before time

Govt has appointed 14 EDs at public-sector banks; their performance will be reviewed after three years for a two-year extension

PSU banks stage a comeback as tactical picks on sustained performance

The combination of low valuations and expected improvement in financials due to lowering credit cost is driving interest

PNB scam case: Nirav Modi can be extradited to India, says UK court

Key accused in PNB scam case has 14 days to appeal

No capital infusion by Punjab National Bank in housing finance subsidiary

PNB Housing Finance Ltd had informed about its plan to raise tier I capital up to Rs 1,800 crore through various modes including QIP, preferential issue of shares or a rights issue

BS CEO Round Table: Six bank chiefs discuss paradigm shift in banking space

Leading names of India's banking industry join Tamal Bandyopadhyay at Business Standard's Unlock BFSI 2.0 to discuss the issues plaguing the sector

PNB inks deal with Indian Oil to provide up to Rs 2 cr loan to dealers

The firm has inked a pact with Indian Oil Corporation to provide up to Rs 2 crore to the oil company's dealers

PNB expects Rs 3,800 cr recovery from Bhushan Power resolution: CEO

The recovery will help it achieve the target of Rs 8,000 crore cash recoveries during this fiscal, its managing director and CEO S S Mallikarjuna Rao said

PNB receives loan rejig requests of only Rs 12,000 crore, says PNB MD

Restructuring sought for corporate loans has been worth Rs 9,000 crore

Punjab National Bank to raise Rs 3,200 cr from share sale this quarter

The bank looks to enhance its capital base

PNB Q3 results: Net profit at Rs 506 crore, NII at Rs 8,313 crore

The bank's gross non-performing assets (NPAs) reduced to 12.99 per cent for the quarter ended December 2020

ED attaches Rs 14-crore assets of Choksi, Gitanjali Gems in PNB case

Choksi, 61, is the maternal uncle of Nirav Modi who is the other prime accused in the alleged over USD 2 billion (more than Rs 13,000 crore) Punjab National Bank (PNB) fraud case

PNB joins hands with IIT Kanpur to set up Fintech Innovation Centre

Punjab National Bank on Thursday announced an alliance with IIT Kanpur and the Foundation for Innovation & Research in Science & Technology (FIRST) for establishing an innovation centre at the institute's campus. Under this partnership, PNB and IIT Kanpur will set up a 'Fintech Innovation Centre (FIC)' as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement. PNB intends to create new products or solutions with technological innovations by creating a FIC involving IITK's experienced faculty members with the help of FIRST, it said. The collaboration of technical prowess from IIT Kanpur and financial expertise of PNB make it an apt "Fin-Tech" partnership that will help build innovations and entrepreneurial excellence, it said, adding, the FIC will be supported by a holistic ecosystem of financial institutions, academia, VC funds, technology companies and key government ...

PNB completes IT integration of all branches of two merged entities

State-owned Punjab National Bank (PNB) on Monday said it has completed IT integration of all branches of erstwhile United Bank of India with itself.

Former PNB chief manager, two associates held in Delhi for loan fraud

A former chief manager of a public sector bank and his two associates were arrested in Delhi for allegedly misappropriating funds through a loan fraud, police said on Wednesday

Punjab National Bank sets floor price for QIP at Rs 37.35 per share

Punjab National Bank (PNB) has set the floor price for its proposed QIP of Rs 7,000 crore at Rs 37.35 per share. The Capital Raising Committee of the bank at a meeting held on Tuesday authorised the opening of the QIP issue and approved the floor price at Rs 37.35 per equity share, PNB said in a regulatory filing. The bank may at its discretion offer a discount of not more than 5 per cent on the floor price, it added. PNB said the committee will meet on Friday to consider and determine the issue price for the equity shares, including a discount, if any, to be allotted to Qualified Institutional Buyers, pursuant to the QIP (qualified institutional placement). With this fund mobilisation, capital-to-risk-weighted assets ratio of the bank, which was at 12.8 per cent at the end of September quarter, would increase to 13.5-14 per cent. PNB stock closed 1.70 per cent down at Rs 40.55 on BSE.

Time will tell if PSBs are mispriced stocks or a value trap: Analysts

It's also a good sign as Punjab National Bank (PNB) is preparing to raise Rs 7,000 crore this week

PNB to hold roadshow for proposed Rs 7,000 crore QIP next week

Punjab National Bank said it will hold a roadshow for the proposed Rs 7,000 crore qualified institutional placement (QIP) issue next week