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PNB reports net profit of Rs 507 crore in Q2; finances under stress
Posted on 6th November 2019
Though Punjab National Bank (PNB) posted a rise in profit before tax (PBT) of Rs 633 crore in the September quarter (Q2), its finances showed signs of stress, when it is going to acquire two public sector banks from the next financial year.

In terms of profitability, PNB was in a better position than the same quarter in the last fiscal. Its net profit stood at Rs 507 crore in Q2, compared to a net loss of Rs 4,532 crore in the same quarter last fiscal year. In Q1, the bank’s net profit stood at Rs 1,019 crore. PNB’s stock price closed lower by 5 per cent at Rs 64.75 on Tuesday.

PNB Housing Finance net rises 45% on higher NII
Posted on 25th October 2019
PNB Housing Finance on Thursday reported a 45% year-on-year (y-o-y) increase in its net profit to `366.8 crore for the quarter ended September, led by a 36% y-o-y rise in net interest income. Net interest income (NII) stood at `628.4 crore at the end of Q2FY20. Net interest margin (NIM), a key measure of profitability, stood at 3.19%, a 47 basis point increase from a year ago.

Disbursements fell to Rs 12,603.5 crore in H1FY20, compared to Rs 18,172.2 crore a year ago. While retail disbursement fell 10% y-o-y to Rs 11,748 crore, corporate fell 83% y-o-y to Rs 856 crore in H1.

Rate sensitives plunge on panic selling in banks; YES Bank tumbles 30%
Posted on 1st October 2019
Shares of rate sensitive sectors like banking, real estate and automobile companies came under heavy selling pressure on Tuesday, falling by up to 30 per cent on the National Stock Exchange (NSE).

The Nifty PSU Bank index tumbled 8 per cent in intra-day deals to 2,118, its lowest level since May 2016. Nifty Realty, too, slipped 6 per cent to 241, while Nifty Private Bank and Nifty Auto indexes down 3 per cent and 2 per cent, respectively. In comparison, the benchmark Nifty 50 index down 1.75 per cent at 11,273 points.

PNB gets lion’s share of recapitalisation
Posted on 31st August 2019
Finance Minister Nirmala Sitharaman on Friday laid out the broad strokes for the recapitalisation plan for public sector banks, providing the approximate allocation breakup for about ₹55,000 crore of the ₹70,000 crore promised in the Budget.

Ms. Sitharaman, while speaking at a press conference to announce the merger of 10 public sector banks into four entities,

PNB lists property in e-auction without proper documents
Posted on 29th August 2019
If you thought acquiring a residential or commercial property through an e-auction by a PSU bank is safe, you are probably wrong. A Pune-based businessman learnt this, thanks to his proactive approach in doing a due diligence on the property and not taking the PSU bank's disclosures on face value.

Punjab National Bank, Allahabad Bank launch repo rate-linked retail loans
Posted on 28th August 2019
NEW DELHI : Public sector banks Punjab National Bank (PNB) and Allahabad Bank on Tuesday launched retail loan products that are linked to the Reserve Bank of India’s (RBI) repo rate. Linking of loans with the repo rate will make them cheaper.

Under the Punjab National Bank’s PNB Advantage scheme, effective from 27 August, the interest rate will be 0.25% less than the existing rates based on MCLR (marginal cost of funds-based lending rate).

BoB, PNB, other lenders hold 2-day meeting to generate ideas for growth
Posted on 19th August 2019
Public sector lenders, including PNB, BoB and Corporation Bank, have organised a two-day consultation process at branch level, seeking suggestions to make the sector future ready and be a catalyst in economic growth. The consultations were held over a period of two days from August 17-18 under the direction of Department of Financial Services, Ministry of Finance.

PNB recovers Rs 278-cr minimum balance penalty from poor account holders
Posted on 8th August 2019
Punjab National Bank (PNB) has recovered Rs 278.66 crore as penalty in the financial year 2018-19 from the poor account holders for not maintaining a minimum balance.

This was revealed after an RTI activist in Madhya Pradesh's Neemuch district, Chandrashekhar Gaur sought information from the PNB on the amount recovered from the account holders in the last two financial years for not maintaining a minimum balance in savings and current account.

PNB Housing raises $75 million through ECB route
Posted on 7th August 2019
One of India’s largest housing finance companies, PNB Housing Finance, has raised $75 million from Sumitomo Mitsui Banking Corporation (SMBC), Singapore, in its second external commercial borrowing (ECB) in FY20.

The housing finance company (HFC) was able to raise funds at a cheaper rate as against the prevailing domestic market rates by nearly 60 basis points (bps) — at 8.4% — for a period of three years, a company executive said.

RBI imposes Rs 50 lakh fine on PNB for delay in reporting fraud in Kingfisher Airlines account
Posted on 3rd August 2019
State-owned Punjab National Bank (PNB) on Saturday said the RBI has imposed a penalty of Rs 50 lakh on it for delay in reporting of fraud in the account of Kingfisher Airlines. “RBI observed from the fraud monitoring report-1 submitted by Punjab National Bank on July, 10 2018 that the bank had delayed the reporting of fraud in the account of Kingfisher Airlines Limited,” PNB said in a regulatory filing.

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