Page 8 - Punjab National Bank

PNB board approves investing Rs 500 cr in PNB Housing's rights issue

PNB Housing Finance is looking to raise Rs 2,000 crore by issuing NCDs on a private placement basis

Punjab National Bank raises benchmark lending rate by 0.15%; EMIs to go up

State-owned PNB raised its marginal cost of funds-based lending rate by 15 basis points or 0.15 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers

PNB earns over Rs 645 crore through ATM transaction charges in FY22

Besides, the country's second largest lender collected Rs 239.09 crore in the form of penalty imposed on customers who failed to maintain minimum balance or quarterly/monthly average balance

PNB to bring down NPAs, ensure high loan recoveries: Atul Kumar Goel

The lender declared its January-March earnings Wednesday, and posted a drop in its gross NPAs to 11.78 per cent from 14.12 per cent reported a year ago

Punjab National Bank to hike repo-linked lending rate from next month

Punjab National Bank (PNB) chief Atul Kumar Goel on Thursday said the bank will raise the repo-linked lending rates from next month. The move comes against the backdrop of Reserve Bank of India (RBI) hiking the repo rate by 40 basis points (bps) last week amid rising inflation. Goel, the state-owned lender's MD and CEO, told reporters that interest rates are certain to rise a tad going further. "With 40 bps rise in repo rate... so according to our policy, from June 1, the same quantum raise in lending rates will be there. So there will be some increase in the loan rate for sure," Goel said. Repo rate is the rate at which banks borrow short term money from RBI. With effect from May 7, the city-headquartered lender had raised interest rates on term deposits in select buckets up to 0.60 per cent. A number of banks have already raise the repo-linked lending rates for their customers after the RBI rate hike. Some have also increased their deposit rates. About the bank's performance i

PNB shares tumble nearly 14% after net profit declines in March quarter

Shares of Punjab National Bank (PNB) on Thursday tumbled nearly 14 per cent after the company reported over 60 per cent decline in standalone net profit for the quarter ended March 2022

Punjab National Bank tanks 10%, hits 52-week low on weak Q4 results

In Q4FY22, the bank's standalone net profit dropped 66 per cent YoY to Rs 201 crore as the bank set aside Rs Rs 325 crore on account of a fraud.

Stocks to Watch: CoForge, MRPL, Petronet, JSW Ispat, PNB, Birla Corp, PSBs

Stocks to Watch Today: Aditya Birla Capital, Apollo Tyres, GSPL, HCC, L&T, RBL Bank, Siemens and Tata Motors ahead of Q4 earnings; Prudent Corporate Advisory Services IPO to close on Thursday.

PNB Q4 results: Standalone net profit declines 66% to Rs 201 crore

Lender sets aside Rs 325 crore to provide for fraud

ED searches 26 locations in ABG Shipyard money laundering case

Surat-based ABG Shipyard and its former promoters are accused of duping a consortium of 28 banks to the tune of Rs 22,842 crore

PNB, IDBI Bank get govt-appointed directors on their boards

The government has nominated new directors on the boards of Punjab National Bank (PNB) and IDBI Bank, following the cessation of the terms of incumbent directors.

Pressure building on banks to raise lending rates, albeit gradually

Real action only after policy rate revision

PNB makes verification of high-value cheques mandatory to check fraud

PNB customers need to share details like account number, cheque number, cheque alpha code, issue date, amount, and beneficiary name for clearing the high-value cheques under PPS

Punjab National Bank plans to raise Rs 12,000 crore through bonds

Punjab National Bank (PNB) on Tuesday said its board has approved a proposal to raise Rs 12,000 crore through issuance of bonds to fund business growth.

Future Enterprises defaults on Rs 93.99 cr payment to PNB and Canara Bank

Future Enterprises Ltd on Thursday said it has defaulted on payment of Rs 93.99 crore to Punjab National Bank and Canara Bank under the one-time restructuring (OTR) plan.

Awaiting govt, RBI advisory on SWIFT transactions with Russian assets: PNB

The country's second-largest bank Punjab National Bank said it was awaiting advisory from the Finance Ministry and the Reserve Bank with regard to SWIFT-related transactions with Russian entities

PNB to clear cheques of Rs 10 lakh & above only after customer confirmation

Punjab National Bank (PNB) said high-value cheques of Rs 10 lakh and above will be cleared after reconfirmation with the issuer under the Positive Pay System (PPS) from April 4

HSBC Insurance intends to buy PNB stake in Canara HSBC OBC Life Insurance

HSBC Insurance (Asia Pacific) Holdings Ltd (INAH), one of the shareholders in Canara HSBC OBC Life Insurance Co Ltd, has expressed its intention to acquire PNB's stake in the insurance company

Aiming to recover Rs 5,000 cr, bring net NPAs under 4.5% by March: PNB MD

The lender is also looking to further monetise its 15% stake in UTI AMC as part of its non-core asset sale plan to shore up its capital base.

Punjab National Bank looking to further dilute its stake in UTI Mutual Fund

State-owned Punjab National Bank (PNB) on Friday said it is looking to further monetise its stake in UTI Mutual Fund as part of its non-core asset sale plan to shore up its capital base.