Page 8 - Pnb

Amalgamation not on cards, focus on internal consolidation, says PNB MD

'Right now we are focussed on internal consolidation and we are not aspiring for any inorganic expansion'

Four men arrested in connection with loan racket in fraud-hit PNB

Four persons including an official of Punjab National Bank Brady house branch in Mumbai whose name figured in the Nirav Modi controversy were arrested in connection with a loan racket, the police said Friday. The accused were identified as Amarjeet Singh, Ajay Kumar Sharma, Suresh and P K Varun (Assistant General Manager) of PNB, they said. Police said the accused Singh in connivance with PNB officials got sanctioned a loan to the tune of Rs 7.5 crores to open a luxurious F Bar and Lounge at Delhi's Connaught Place. After the Nirav Modi incident, the accused Singh left his address and even switched off his phone since his loan was also connected with the same branch as that of Nirav Modi's. In fact, the accused operated the F Bar & Lounge for three years and later closed it without repaying the loans and other liabilities, Suvashis Choudhary, Additional Commissioner of Police (Economic Offences Wing) said. Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank ...

PNB shareholders approve ESPS scheme; Rs 28 bn capital infusion by govt

Shareholders also voted to clear the issuance of over 310 million shares to the government as part of recapitalisation of PNB by the Union govt

PNB plans to sell its entire holding of 0.11% in NSE for over Rs 480 mn

The divestment of the stake in the NSE is expected to fetch at least Rs 483.5 million to the bank

PNB posts Rs 9.4 bn Q1 loss: Investors awaiting asset quality relief

Even other operating metrics such as net interest income or NII and operating profit were ahead of the estimates

PNB gets Rs 28.16 bn as part of capital infusion plan via equity shares

The preferential allotment of equity shares to government will be made after completing the process of regulatory approvals

Modi govt set to infuse Rs 20 billion into PNB to aid bond payment

PNB needs to pay about 1.35 billion rupees to cover the 8.98 percent annual interest on Rs 15 billion worth of so-called AT1 bonds sold in July 2017

PNB to designate 60 branches to carry out loan operations above Rs 500 mn

The bank will create these SIBs across the country as part of its credit restructuring exercise

PNB scam: Accused challenges PMLA court's jurisdiction, seeks case transfer

The CBI had earlier booked Bhatt along with others under IPC section 420 (cheating) and relevant sections of Prevention of Corruption Act in connection with the fraud

Fraud-hit PNB signals recovery by Q2; eyes Rs 55 billion net profit

Govt refuses bank's demand for additional capital of Rs 80 bn

RBI to defer putting lending, expansion curbs on PNB till Q1 results

Andhra Bank, Punjab and Sind Bank, and Canara Bank, too, are likely to make a similar presentation before the regulator

Punjab National Bank's FY19 plans fail to convince finance ministry

While downgrading PNB's rating, Moody's Investors Service said the bank would need ~120-130 billion in 2018-19 to meet regulatory requirements

Record losses the first sign of greater pain ahead for PNB in FY19

Bank has to carry forward Rs 100 billion provisioning in FY19 while weak capital base will impact growth of advances

Punjab National Bank to provide Rs 35 billion for fraud loss last year

The announcement of the results is set to be a low-key affair; a press conference is unlikely, in a departure from the past

Punjab National Bank eyes 11% growth in total business to Rs 12 trillion

In a bid to curb frauds, the bank said it had tightened bank's credit underwriting norms and put in place an off-site monitoring to identify risks

Fitch downgrades scam-hit Punjab National Bank's viability rating to BB-

Soon after the fraud was unearthed in February 2018, Fitch had warned the PNB -- one of the country's biggest state-run banks -- of downgrading its Viability Rating

Punjab National Bank Q3 net profit up 11.1% at Rs 2.3 bn, bad loans decline

The public sector lender's total income increased by 8.02 per cent to Rs 152.57 billion for the quarter under review

PNB to close or relocate up to 300 branches

The bank has formed a group of senior officials to do a detailed study and flesh out strategies for branch network rationalisation

PNB to raise Rs 5,000 cr via QIP; appoints merchant bankers for share sale

In the first half of the fiscal, the advances of the bank grew by about 8%

PNB puts 32 NPAs with outstanding loan of Rs 1,176 cr on block

Gorss NPAs declined marginally to 13.66% of gross advances as on June 30, 2017 from 13.75% a year earlier