Punjab National Bank

Indian state-run lender Punjab National Bank said on Wednesday it would raise up to 120 billion rupees ($1.46 billion) in one or two tranches, through the issue of bonds

Hardening yields drives decision to raise lower amounts; Bond market sources said coupon was firmed up at 8.75%

During FY23, HDFC Bank was the only private sector lender that raised capital using AT1 bonds

It is important to note that AT1 bonds are unsecured, perpetual bonds that banks issue to improve their core capital base

Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time

Partnership will give farmers information about negotiable instrument meant to assist rural economy

In a Q&A, the lender's MD & CEO says the bank's NPA ratio could improve further as it doesn't have any large loan that needs to be regarded as bad

Additionally, for FDs maturing between two and three years, the interest rates have been increased by 25 bps to 7% from 6.75%

Bank reports 44.2% decline in Q3 net profit as NPA provisions, costs rise

Punjab National Bank has a total exposure of $859.30 million to Adani Group, but there is currently no worry pertaining to those accounts, the managing director and chief executive said

Punjab National Bank (PNB) on Monday reported a 44 per cent decline in standalone net profit at Rs 629 crore in the third quarter ended December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. However, total income during October-December 2022 increased to Rs 25,722 crore as against Rs 22,026 crore in the year-ago period, PNB said in a regulatory filing. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 9.76 per cent as compared to 12.88 per cent at the end of third quarter of previous fiscal. At the same time, the net NPAs eased to 3.30 per cent as against 4.90 per cent in the same period a year ago. However, provisions for bad loans increased to Rs 3,908 crore during the quarter as against Rs 3,654 crore a year ago. The capital adequacy ratio rose to 15.15 per cent in the December quarter as against 14.91 per cent.

Public sector lender Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on a private placement basis. The bank has issued and allotted Basel III compliant Additional Tier I bonds at a coupon of 8.40 per cent per annum, aggregating to Rs 582 crore on a private placement basis, the bank said in a regulatory filing on Friday. The bank said the non-convertible taxable bonds will qualify as Tier I capital.

CBI on Thursday registered a case on complaint from Punjab National Bank (PNB) against its former manager, and others including two private companies, for allegedly committing a fraud of Rs 168.59 cr

There were similar reports in August 2022 and UTI AMC had then denied having any knowledge about it

The country's biggest BFSI Summit will feature some of the most prominent voices in India's economic landscape, including RBI Governor Shaktikanta Das, Deputy Governors, and SBI chairman

Fugitive jeweller and designer had fled India in early 2018, days before the details of his alleged role in large-scale fraud at the Punjab National Bank became public

The cost of paying coupon on tier-1 bonds, a form of debt, is less than servicing equity capital

The quantum raised through Tier 2 bonds is set to rise much further in coming days as Axis Bank is slated to sell Rs 12,000 crore of such instruments on Friday

In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex

Over Rs 12 crore have been swindled from several accounts of the Kozhikode Corporation in a Punjab National Bank here and the prime accused -- a former senior manager of the bank -- is still at large. The fraud came to light last month when the Corporation found huge sums of money missing from its various accounts in the PNB branch, an officer of Crime Branch wing of the police said. An FIR was immediately lodged and in view of the amount involved, of Rs 12.68 crore, the probe was transferred to the Crime Branch, the officer said. Initially, the Corporation believed that the swindled amount was over Rs 15 crore, but subsequently, its audits revealed that Rs 12.68 crore was missing from its accounts in the bank. Besides the Corporation, around Rs 18 lakh was also stolen, allegedly by the former bank manager, from the account of a private individual, the officer said. He said that their investigation has revealed that most of the money -- around Rs 10 crore -- was invested in the s