Punjab national bank news

Here are some recent news updates about Punjab National Bank (PNB):

Latest News

  1. PNB reports Q4 loss: Punjab National Bank (PNB) reported a net loss of ₹3,691 crore for the quarter ended March 31, 2022, due to higher provisioning for bad loans and other expenses. (Source: Business Standard)
  2. PNB to raise ₹5,000 crore: The bank plans to raise ₹5,000 crore through a rights issue to strengthen its capital base and meet regulatory requirements. (Source: The Hindu BusinessLine)
  3. PNB launches digital payment platform: PNB has launched a digital payment platform, "PNB Pay", which allows customers to make transactions using their mobile phones. (Source: Financial Express)
  4. PNB to merge with Oriental Bank of Commerce: The bank has received approval from the Reserve Bank of India (RBI) to merge with Oriental Bank of Commerce, which will create the second-largest public sector bank in the country. (Source: The Economic Times)
  5. PNB's bad loan ratio improves: The bank's gross non-performing asset (NPA) ratio has improved to 12.11% as of March 31, 2022, from 13.34% a year ago. (Source: Livemint)

Recent Developments

  1. PNB's Q3 results: The bank reported a net profit of ₹1,351 crore for the quarter ended December 31, 2021, driven by a decline in bad loans and other income. (Source: Business Standard)
  2. PNB's capital adequacy ratio: The bank's capital adequacy ratio (CAR) stood at 13.45% as of March 31, 2022, which is above the regulatory requirement of 11.5%. (Source: The Hindu BusinessLine)
  3. PNB's digital transformation: The bank has been investing heavily in digital transformation, with plans to increase its digital transactions to 50% of total transactions by 2025. (Source: Financial Express)
  4. PNB's rural banking initiatives: The bank has launched several initiatives to improve its rural banking services, including the introduction of a mobile banking app and the expansion of its branch network in rural areas. (Source: The Economic Times)
  5. PNB's sustainability initiatives: The bank has launched several sustainability initiatives, including the introduction of a green loan scheme and the promotion of renewable energy projects. (Source: Livemint)

I hope this information is helpful!