Page 9 - Punjab National Bank
PNB shares climb over 3% after Q3 earnings see two-fold jump in profit
Shares of Punjab National Bank (PNB) on Friday gained over 3 per cent after the company reported a two-fold jump in standalone net profit for the third quarter ended December. The stock jumped 3.16 per cent to Rs 42.40 on the BSE. At the NSE, it gained 3.03 per cent to Rs 42.40. Punjab National Bank on Thursday reported a two-fold jump in standalone net profit to Rs 1,126.78 crore for the third quarter ended December, as bad loans marginally declined. The country's second-largest public sector lender had earned a net profit of Rs 506.03 crore in the year-ago period. However, total income during October-December 2021 declined to Rs 22,026.02 crore, as against Rs 23,298.53 crore a year ago, PNB said in a regulatory filing. On the asset quality front, the bank witnessed slight improvement by cutting its gross non-performing assets (NPAs) as a percentage of gross advances to 12.88 per cent from 12.99 per cent by the same period a year ago. In absolute value, gross NPAs stood at Rs .
 "PNB shares climb over 3% after Q3 earnings see two-fold jump in profit")
Stocks to Watch: RBL Bank, TVS Motors, Fino Payments Bank, PNB, Telecom
3i Infotech, BEL, Dixon Tech, Kotak Bank, Karnataka Bank, Larsen & Toubro, Marico, NIIT, Naukri, Suzlon, United Breweries and Vedanta to announce results today.
 "Stocks to Watch: RBL Bank, TVS Motors, Fino Payments Bank, PNB, Telecom")
'Neither a fugitive nor a bank defaulter': Mehul Choksi
In an exclusive interview with Business Standard, diamantaire Mehul Choksi claims he turned a defaulter only after banks "wrongly implicated" him in the Nirav Modi case and his assets were seized
 "'Neither a fugitive nor a bank defaulter': Mehul Choksi")
Atul Kumar Goel takes charge as 'officer on special duty' in PNB
Punjab National Bank on Saturday said Atul Kumar Goel has taken charge as an 'officer on special duty', before taking over as its new MD and CEO next month.
 "Atul Kumar Goel takes charge as 'officer on special duty' in PNB")
RBI fines ICICI Bank Rs 30 lakh and PNB Rs 1.8 cr for non-compliance
RBI found non-compliance on part of ICICI Bank with directions related to levy of charges for non-maintenance of minimum balance in saving accounts
 "RBI fines ICICI Bank Rs 30 lakh and PNB Rs 1.8 cr for non-compliance")
RBI policy has steps for more inclusive, affordable banking: PNB MD
The measures announced in RBI's bi-monthly monetary policy are steps towards a more conducive, affordable and inclusive banking, Punjab National Bank MD and CEO said
 "RBI policy has steps for more inclusive, affordable banking: PNB MD")
PNB plans to raise up to Rs 2,000 cr through additional AT1 bonds
Bond dealers said the base size of the offering is for Rs 500 crore with a green shoe option of Rs 1,500 crore
 "PNB plans to raise up to Rs 2,000 cr through additional AT1 bonds")
PNB to pick up 9.5% stake in Open Network for Digital Commerce Ltd
Open Network for Digital Commerce (ONDC) Ltd is being established with a mandate to develop an open network for digital commerce
 "PNB to pick up 9.5% stake in Open Network for Digital Commerce Ltd")
PNB puts up National Steel & Agro Industries Ltd for sale to recover dues
The company has a balance outstanding of Rs 199.90 crore to the bank
PNB stock gains over 2% after Fitch affirms 'BBB‐' rating
Fitch's says there's a high probability of extraordinary government support for PNB, if required, because of the bank's high systemic importance
Punjab National Bank raises Rs 1,919 crore via Basel compliant bonds
State-owned Punjab National Bank said it has raised Rs 1,919 crore by issuing Basel compliant bonds
ICRA upgrades tier I, II bonds of Canara Bank and Punjab National Bank
The solvency is expected to get a further boost from expectations of steady internal capital accruals, the rating agency said in a statement
 "ICRA upgrades tier I, II bonds of Canara Bank and Punjab National Bank")
Punjab National Bank cuts benchmark lending rate by 5 bps to 6.50%
Punjab National Bank on Wednesday announced the cut in its benchmark lending rate
 "Punjab National Bank cuts benchmark lending rate by 5 bps to 6.50%")
Punjab National Bank quarterly profit jumps 78% to Rs 1,105 crore
State-owned Punjab National Bank (PNB) on Wednesday reported a 78 per cent increase in net profit at Rs 1,105 crore for the second quarter ended September 30
BoB, PNB hit fresh 52-week high, regain Rs 50,000-crore market cap
In the past one month, the stock of Union Bank of India, Canara Bank, Bank of Baroda and Punjab National Bank have rallied between 25 and 44 per cent
 "BoB, PNB hit fresh 52-week high, regain Rs 50,000-crore market cap")
State-owned Punjab National Bank reduces gold loan rates
PNB is also offering a full waiver of service charges/processing fee on the loans against gold jewellery and SGB, similar to home loans and vehicle loans announced recently
PNB picks up 12% stake in NARCL, to cut holding by December
PNB's equity stake of 12.06 per cent will be reduced to 9 per cent by December 2021
Punjab National Bank buys stake in National Asset Reconstruction Company
Punjab National Bank on Thursday said it has purchased 1.8 crore shares of the proposed National Asset Reconstruction Company Ltd
PNB earns Rs 170 cr in FY21 as charges for not maintaining min balance: RTI
Punjab National Bank collected nearly Rs 170 crore by levying charges on customers for not maintaining the required minimum balance in their accounts during 2020-21, according to RTI information.
PNB cuts rate on home loan above Rs 50 lakh by 0.5 pc; RLLR by 0.25 pc
A day after SBI and Bank of Baroda announced festival season offer, Punjab National Bank on Friday slashed the interest rate on home loan above Rs 50 lakh by 0.50 per cent to 6.60 per cent
 "PNB cuts rate on home loan above Rs 50 lakh by 0.5 pc; RLLR by 0.25 pc")
