Punjab National Bank gets permission to raise Rs.12,000 crore via bonds

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Punjab National Bank (PNB) has got authorization to issue capital in one or more tranches of up to Rs 12,000 crore through Basel III Compliant AT-1/Tier II Bonds (AT-1 Bonds up to Rs 7000 crore and Tier- II Bonds up to Rs 5000 crore). The Bank’s Board of Directors authorized the same during its meeting on March 29, 2023.

PNB is one of India’s oldest banks, with physical presence in almost each major city and town. The primary source of income is interest earned on various loans given to individuals and corporates.

PNB Revenue

PNB earned Rs 74,879.54 crore in revenue in the latest financial year. It has posted decent revenue growth of 13.43 per cent in the last three Years. The bank reported an 8 per cent, rise in its advances on a yearly basis.

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Shares of PNB surged 2.87 per cent to Rs 44.92 with an intraday high of Rs 46.59 and a low of Rs 44.60 on March 29. It has a 52-week high of Rs 62.50 and a 52-week low of Rs 28.50.

Government Shareholding

In terms of holding, 73.15 per cent of the bank’s shares are held by the government, while foreign institutions and Domestic institutions held 1.71 per cent and 12.98 per cent, respectively. Public hold 12.16 per cent at the end of December 2022.

Punjab National Bank

Punjab National Bank is an Indian public sector bank based in New Delhi. The bank was founded in May 1894 and is the third largest public sector bank in India in terms of its business volumes and second largest in terms of its network. The bank has over 180 million customers, 12,248 branches, and 13,000+ ATMs.

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PNB has a banking subsidiary in the UK (PNB International Bank, with seven branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai, and Kabul. It has representative offices in Almaty (Kazakhstan), Dubai (United Arab Emirates), Shanghai (China), Oslo (Norway), and Sydney (Australia). In Bhutan, it owns 51% of Druk PNB Bank, which has five branches. In Nepal, PNB owns 20% of Everest Bank, which has 122 branches. PNB also owns 41.64% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.

TypePublic
Traded asBSE: 532461
NSE: PNB
IndustryBanking, Financial services
Founded19 May 1894; 128 years ago
FounderDyal Singh Majithia Lala Lajpat Rai
HeadquartersDwarka, Delhi, India
Number of locations11,809
Key peopleK G Ananthakrishnan
(Non-Exe Chairman) Atul Kumar Goel
(MD & CEO)
ProductsCredit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue₹88,339 crore (US$11 billion) (2022)
Operating income₹21,025 crore (US$2.6 billion) (2022)
Net income₹3,676 crore (US$460 million) (2022)
Total assets₹1,809,301 crore (US$230 billion) (2022)
Total equity₹95,379 crore (US$12 billion) (2022)
OwnerGovernment of India
Number of employees103,144 (2022)
SubsidiariesPNB MetLife India Insurance Company
PNB Housing Finance Limited
Capital ratio14.14% (2020)
Websitewww.pnbindia.in
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