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Sitharaman directs rural banks to remove duplication of Jan Dhan accounts   Finance Minister Nirmala Sitharaman on Wednesday directed regional rural banks (RRBs) to remove duplication of Jan Dhan accounts and facilitate storage facility for apple growers particularly in Jammu and Kashmir and Himachal Pradesh.  She said this during a review meeting of RRBs, where she emphasised on digital capability upgradation of RRBs and instructed the chairman of Punjab National Bank (PNB) to ensure that all RRBs under its ambit acquire digital onboarding capabili...
Sitharaman directs rural banks to remove duplication of Jan Dhan accounts
Sitharaman directs rural banks to remove duplication of Jan Dhan accounts
Source: IANS
31/08/2023 9:46:58 AM
PNB Financial Results for the Quarter Ended 30th June 2023 Key Highlights * Net profit for Q1 FY24 was at ?1255 Crore and grew by 307.02 % on YoY basis. * Operating Profit was at ? 5,968 Crore during Q1 FY’24 grew by 10.95% on YoY basis. * Net Interest Income increased by 26.00% YoY to ? 9,504 Crore in Q1 FY24. * Global NIM improved by 29 bps on YoY basis to 3.08% in Q1 FY24 from 2.79% in Q1 FY’23. * GNPA ratio improved by 354 bps on YoY basis to 7.73% as on June’23 from 11.27% as on June’22. * NNPA ratio imp...
PNB Financial Results for the Quarter Ended 30th June 2023
PNB Financial Results for the Quarter Ended 30th June 2023
Source: PR Agency
26/07/2023 4:18:56 PM
Punjab National Bank climbs on reporting over 3- fold jump in Q1 consolidated net profit Punjab National Bank is currently trading at Rs. 62.20, up by 1.52 points or 2.50% from its previous closing of Rs. 60.68 on the BSE. The scrip opened at Rs. 60.92 and has touched a high and low of Rs. 62.77 and Rs. 60.15 respectively. So far 6819914 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 65.15 on 20-Jul-2023 and a 52 week low of Rs. 31.30 on 29-Jul-2022. Last one week high and low of the scrip stood at...
Punjab National Bank climbs on reporting over 3- fold jump in Q1 consolidated net profit
Punjab National Bank climbs on reporting over 3- fold jump in Q1 consolidated net profit
Source: Accord Fintech
26/07/2023 2:52:32 PM
India`s PNB Housing posts 48% rise in Q1 profit on strong housing demand Indian mortgage lender PNB Housing Finance on Monday posted a nearly 48% rise in its first-quarter profit, driven by robust demand for housing loans and improved asset quality. PNB Housing, a unit of state-run lender Punjab National Bank, said its consolidated net profit after tax stood at 3.47 billion rupees ($42.4 million) for the quarter ended June 30, compared with 2.35 billion rupees a year earlier. Net interest margin, a key measure of profitability, stood at 3.86%, while net inte...
India`s PNB Housing posts 48% rise in Q1 profit on strong housing demand
India`s PNB Housing posts 48% rise in Q1 profit on strong housing demand
Source: Reuters
24/07/2023 3:07:48 PM
Buy Punjab National Bank Ltd For Target Rs.80 - LKP Securities Ltd Punjab National Bank (PNB) has consistently been reporting robust earnings since many quarters. The wholesale book has cleaned up significantly and further recoveries are expected in FY24E. Additionally, the bank’s credit growth was robust in FY23 and expected to be in same trajectory for FY24E. We expect the bank’s NIMs to stay intact as MCLR book (35%) re-pricing in underway. Our investment thesis is based on 1) Easing corporate stress with higher recovery, 2) Risk adjusted grow...
Buy Punjab National Bank Ltd For Target Rs.80 - LKP Securities Ltd
Buy Punjab National Bank Ltd For Target Rs.80 - LKP Securities Ltd
Source: LKP Securities Ltd
10/07/2023 2:25:57 PM
Punjab National Bank Launches its Virtual Branch in the Metaverse: PNB Metaverse Punjab National Bank, nation’s leading public sector bank, launched PNB Metaverse powered by Kiya.ai  (Infrasoft Technology Pvt Ltd). It is a virtual branch of the Bank, which will deliver a unique experience of Banking to the existing and new customers who can now explore the bank’s products and services such as, Bank’s Deposit, Retail/MSME Loans, Digital Products, Women/Senior Citizens, “Do It Yourself” and Government Flagship Schemes.   PNB has...
Punjab National Bank Launches its Virtual Branch in the Metaverse: PNB Metaverse
Punjab National Bank Launches its Virtual Branch in the Metaverse: PNB Metaverse
Source: PR Agency
6/07/2023 5:10:23 PM
PNB partners with AMUL to support one of the largest dealer networks in India Punjab National Bank (PNB), nation’s leading public sector bank, has partnered with Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMFL), better known as “AMUL” to offer financial services to Federation’s supply network pan India under the MUDRA scheme. An MoU to this effect was signed between PNB and GCMMFL (Amul) on July 1st, 2023 at PNB’s corporate office at Dwarka, New Delhi in the august presence of Sri Jayen Mehta, MD, GCMMFL, Sri M. Parama...
PNB partners with AMUL to support one of the largest dealer networks in India
PNB partners with AMUL to support one of the largest dealer networks in India
Source: PR Agency
3/07/2023 3:00:50 PM
Punjab National Bank gains on partnering with Gujarat Cooperative Milk Marketing Federation Punjab National Bank is currently trading at Rs. 52.15, up by 0.49 points or 0.95% from its previous closing of Rs. 51.66 on the BSE. The scrip opened at Rs. 52.00 and has touched a high and low of Rs. 52.55 and Rs. 52.00 respectively. So far 1041339 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 62.05 on 15-Dec-2022 and a 52 week low of Rs. 28.75 on 01-Jul-2022. Last one week high and low of the scrip stood at...
Punjab National Bank gains on partnering with Gujarat Cooperative Milk Marketing Federation
Punjab National Bank gains on partnering with Gujarat Cooperative Milk Marketing Federation
Source: Accord Fintech
3/07/2023 10:42:28 AM
Punjab National Bank Celebrates 9th International Yoga Day Punjab National Bank (PNB), nation’s leading public sector bank, celebrated the 9th International Yoga Day to encapsulate the collective aspiration for "One Earth, One Family, One Future." On this day, the PNB Parivar came together and took part in multiple early morning interactive yoga sessions focusing on stress management, relaxation techniques, and breathing exercises across all the zones, circles and at the PNB Head Office.   Following this year’s theme,...
Punjab National Bank Celebrates 9th International Yoga Day
Punjab National Bank Celebrates 9th International Yoga Day
Source: PR Agency
22/06/2023 11:56:15 AM
CMS completes execution of Managed Services mandate of 5200+ ATMs for Punjab National Bank  CMS Info Systems Limited (CMS), India’s leading business services company offering banking logistics and technology services, has completed the execution of ATM Managed Services of 5,200+ ATMs for Punjab National Bank (PNB) across 526 cities and towns in 26 states. The completion of this mandate makes CMS the largest ATM Managed Services provider to PNB.   The mandate includes end-to-end management of their designated ATM network through a singl...
CMS completes execution of Managed Services mandate of 5200+ ATMs for Punjab National Bank
CMS completes execution of Managed Services mandate of 5200+ ATMs for Punjab National Bank
Source: PR Agency
21/06/2023 3:19:47 PM
PNB Organizes Rajbhasha Convention and Workshop Punjab National Bank (PNB), nation’s leading public sector bank organized a convention and workshop for the Charirman and Secretaries of the Town Official Language Implementation Committees (TOLIC) at its headquarters in Dwarka. On this occasion, the bank released a book `Rajbhasha Path-Pradarshak’ published by the Rajbhasha department.   The event and book launch was attended by Smt. Anshuli Arya, IAS, Secretary in the Rajbhasha Department, Home Ministry, Government of...
PNB Organizes Rajbhasha Convention and Workshop
PNB Organizes Rajbhasha Convention and Workshop
Source: PR Agency
16/06/2023 10:35:18 AM
Punjab National Bank launches IVR Based UPI Solution - UPI 123PAY New Delhi: Punjab National Bank (PNB), nation’s leading public sector Bank, becomes the first mega Public Sector Bank to introduce IVR-based UPI solution - UPI 123PAY, aligning with the Digital Payment Vision 2025 towards a cashless and cardless society. Unified Payments Interface (UPI) is a 24*7 payment channel enabling customers to perform fast, encrypted and real-time payments. Till now, the solution was accessible only through smartphones or through Unstructured Supplementar...
Punjab National Bank launches IVR Based UPI Solution - UPI 123PAY
Punjab National Bank launches IVR Based UPI Solution - UPI 123PAY
Source: PR Agency
13/06/2023 12:09:42 PM
View on RBI`s Monetary Policy By Shri Atul Kumar Goel, Punjab National Bank Below View On RBI’s Monetary Policy By Shri Atul Kumar Goel, MD and CEO of Punjab National Bank RBI has kept the rates and stance unchanged in line with the market expectations in view of easing retail inflation and anticipation of a further decline. Maintaining the growth projection of GDP for FY’24 at 6.5% reflects that RBI remains sanguine about the economic growth projections. Reduction of the Inflation projection for FY’24 also indicates optimism. RBI&rs...
View on RBI`s Monetary Policy By Shri Atul Kumar Goel, Punjab National Bank
View on RBI`s Monetary Policy By Shri Atul Kumar Goel, Punjab National Bank
Source: PR Agency
8/06/2023 7:08:35 PM
Stock Picks : Infosys Ltd and Punjab National Bank Ltd By ICICI Direct Infosys Ltd Buy Infosys Ltd @1316-1318 CMP 1323.85; Target 1335.80; Stop Loss 1308.70   Punjab National Bank Ltd Buy Punjab National Bank Ltd @50.90-51.20  CMP 51.45 ; Target 52.40; Stop Loss 50.50   To Read Complete Report & Disclaimer Click Here   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number IN...
Stock Picks : Infosys Ltd and Punjab National Bank Ltd By ICICI Direct
Stock Picks : Infosys Ltd and Punjab National Bank Ltd By ICICI Direct
Source: ICICI Direct
31/05/2023 10:56:27 AM
PNGS Gargi Fashion Jewellery gains on opening new retail showroom in Pune PNGS Gargi Fashion Jewellery is currently trading at Rs. 117.00, up by 2.00 points or 1.74% from its previous closing of Rs. 115.00 on the BSE. The scrip opened at Rs. 118.45 and has touched a high and low of Rs. 124.00 and Rs. 114.95 respectively. So far 30000 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 201.15 on 02-Feb-2023 and a 52 week low of Rs. 57.00 on 20-Dec-2022. Last one week high and low of the s...
PNGS Gargi Fashion Jewellery gains on opening new retail showroom in Pune
PNGS Gargi Fashion Jewellery gains on opening new retail showroom in Pune
Source: Accord Fintech
26/05/2023 1:46:09 PM
Google Pay launches RuPay credit cards support on UPI in India Google Pay in conjunction with the National Payments Corporation of India (NPCI) on Tuesday rolled out support for RuPay credit cards on Unified Payments Interface (UPI). The users can now link their RuPay credit cards with Google Pay to pay at all online and offline merchants where RuPay credit cards are accepted. The feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda, Canara Bank, HDFC bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank and Uni...
Google Pay launches RuPay credit cards support on UPI in India
Google Pay launches RuPay credit cards support on UPI in India
Source: IANS
23/05/2023 12:35:03 PM
Netutral Punjab National Bank Ltd For Target Rs.55 - Motilal Oswal Financial Services Mixed quarter; Elevated opex drags down earnings Asset quality improves * PNB reported a mixed quarter, with an 8% miss in PAT and in-line growth in NII. PAT of INR11.5b was affected by high opex. NII grew 30% YoY to INR94.9b as domestic margin expanded 8bp QoQ to 3.4%. The bank also benefitted from interest on the IT refund of INR8.7b. * The loan book grew 14% YoY to INR8.3t (in line), driven by healthy traction in retail loans. Deposits grew 12% YoY to INR12.8t (4% beat), led by 7....
Netutral Punjab National Bank Ltd For Target Rs.55 - Motilal Oswal Financial Services
Netutral Punjab National Bank Ltd For Target Rs.55 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
20/05/2023 12:14:55 PM
Punjab National Bank Financial Results for the Quarter Ended 31st March 2023 Key Highlights Net profit for Q4 FY23 was at ?1159 Crore and grew by 473.6% on YoY basis. Operating Profit was at ? 5866 Crore during Q4 FY23 grew by 11.4% on YoY basis. Net interest income increased by 30.05% YoY to ?9499 Crore in Q4 FY’23. Global NIM improved by 48 bps on YoY basis to 3.24% in Q4 FY23 from 2.76% in Q4 FY’22. GNPA ratio improved by 304 bps on YoY basis to 8.74% as on March’23 from 11.78% as on March’22. NNPA ratio improved by 208 bps...
Punjab National Bank Financial Results for the Quarter Ended 31st March 2023
Punjab National Bank Financial Results for the Quarter Ended 31st March 2023
Source: PR Agency
19/05/2023 7:22:33 PM
Punjab National Bank launches new toll-free number 1800 1800 and other digital offerings on its 129th foundation day Punjab National Bank, nation’s leading public sector bank, announced the launch of its new customer care numbers 1800-1800 & 1800-2021 on the occasion of the bank’s 129th Foundation Day. The new easy-to-recall toll-free number aims to provide PNB customers with a seamless and hassle-free experience whenever they reach out to the customer care team. Additionally, the bank introduced other products such as E-Marketplace and Instant QR on  Mobile Banking App PNB One, PA...
Punjab National Bank launches new toll-free number 1800 1800 and other digital offerings on its 129th foundation day
Punjab National Bank launches new toll-free number 1800 1800 and other digital offerings on its 129th foundation day
Source: PR Agency
13/04/2023 11:42:59 AM
Paytm UPI Lite crosses 4 mn users with 10 mn transactions to date Homegrown Paytm Payments Bank has now over 4.3 million users on Paytm UPI Lite with more than over 10 million transactions so far through the Paytm Super App, the company said on Tuesday. Paytm UPI Lite continues to gain rapid popularity among the masses to carry out small-value transactions of up to Rs 200 in a single tap. Currently, 10 banks support Paytm UPI Lite -- Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National B...
Paytm UPI Lite crosses 4 mn users with 10 mn transactions to date
Paytm UPI Lite crosses 4 mn users with 10 mn transactions to date
Source: IANS
4/04/2023 5:59:26 PM
Worldline launches VABOX to facilitate instant payment voice alerts for merchants in India Worldline [Euronext: WLN], a global leader in payments services today launched VABOX – Voice Alert Box - to facilitate instant payment voice alerts for merchants in India.   The sleek, compact and robust device is currently being launched by Worldline partner banks namely Axis Bank, Kotak Mahindra Bank, Punjab National Bank, Union Bank of India and others. In the initial phase, Worldline India will be rolling out half a million devices that will prompt instant voice...
Worldline launches VABOX to facilitate instant payment voice alerts for merchants in India
Worldline launches VABOX to facilitate instant payment voice alerts for merchants in India
Source: PR Agency
17/03/2023 2:04:16 PM
Paytm now offers lightning fast UPI payments that never fail in peak hours Paytm Payments Bank has become the only platform to exclusively offer UPI LITE payments, which enables faster real-time transactions with a single tap on the Paytm app. Paytm UPI LITE will never fail even during peak transaction hours, even when banks have success rate issues, the company said in a statement on Friday. Paytm UPI LITE aims to make digital payments more accessible to people across the country. UPI LITE, enabled by National Payments Corporation of India (NPCI), aids use...
Paytm now offers lightning fast UPI payments that never fail in peak hours
Paytm now offers lightning fast UPI payments that never fail in peak hours
Source: IANS
24/02/2023 2:30:20 PM
Higher capex, infra push, green initiatives to drive up demand for bank funds The Indian banking sector is happy with the Union Budget for 2023-24 presented by Finance Minister Nirmala Sitharaman. For the banking sector which is seeing an increased credit offtake in the recent times, is expecting more business due to increased allocation for capital investment and also inflow of cash with the increase in rebate for tax payers under the Income Tax Act which is expected to bring them some low cost funds. While that is for the bankers, Sitharaman too had announcemen...
Higher capex, infra push, green initiatives to drive up demand for bank funds
Higher capex, infra push, green initiatives to drive up demand for bank funds
Source: IANS
5/02/2023 10:45:05 AM
Punjab National Bank & Aadhar Housing Finance enter into co-lending partnership Delhi: Punjab National Bank & Aadhar Housing Finance Ltd. have entered into a co-lending agreement to offer Home Loans at competitive interest rates. Through this partnership, aim is to reach out to a large section of society viz. economically weaker, lower, and middle-Income groups for providing easy, convenient, and efficient home finance solutions to customers. The co-lending framework of the Reserve Bank of India provides a tool for the Banks and NBFCs/HFCs to collaborate, lev...
Punjab National Bank & Aadhar Housing Finance enter into co-lending partnership
Punjab National Bank & Aadhar Housing Finance enter into co-lending partnership
Source: PR Agency
25/01/2023 10:49:06 AM
Moody's upgrades ratings on 3 Indian state-run banks, affirms State Bank of India at Baa3 Moody's Investors Service on Friday upgraded long-term currency deposit ratings for three Indian state-run lenders on improving credit metrics, better macro economic health and a bet on government support for financial institutions. The ratings agency lifted Bank of Baroda, Punjab National Bank and Canara Bank to Baa3 from Ba1, and affirmed State Bank of India's rating at Baa3, while upgrading its baseline credit assessment and additional tier 1 securities program rating to Ba1 and...
Moody's upgrades ratings on 3 Indian state-run banks, affirms State Bank of India at Baa3
Moody's upgrades ratings on 3 Indian state-run banks, affirms State Bank of India at Baa3
Source: Reuters
20/01/2023 12:11:56 PM
LKP Spade : A Weekly Pick - Buy Punjab National Bank Ltd For Target Rs. 61/64 By LKP Securities Punjab National Bank Ltd * PNB has given a breakout from a symmetrical triangle pattern on the daily chart with a significant surge in volumes. * The stock is trading in a strong uptrend on the lower time frame, with higher high and higher low formations intact. * The momentum indicator RSI has given a positive crossover and has entered the zone of 60, which confirms the buy signal. Buy Punjab National Bank Ltd @ Rs.58 Stop Loss: Below Rs. 55 CB Target...
LKP Spade : A Weekly Pick - Buy Punjab National Bank Ltd For Target Rs. 61/64 By LKP Securities
LKP Spade : A Weekly Pick - Buy Punjab National Bank Ltd For Target Rs. 61/64 By LKP Securities
Source: LKP Securities Ltd
16/01/2023 11:24:38 AM
Stock Picks : Tata Steel Ltd And Punjab National Bank Ltd By ICICI Direct Tata Steel Ltd Buy Tata Steel Ltd @ 116.50-117.00 CMP 115.65 Stop Loss 115.70 Target 118.40   Punjab National Bank Ltd Buy  Punjab National Bank Ltd @ 57.30-57.70 CMP 56.40 Stop Loss 56.80 Target 58.70   To Read Complete Report & Disclaimer Click Here   Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEB...
Stock Picks : Tata Steel Ltd And Punjab National Bank Ltd By ICICI Direct
Stock Picks : Tata Steel Ltd And Punjab National Bank Ltd By ICICI Direct
Source: ICICI Direct
9/01/2023 12:00:45 PM
IL&FS completes transfer of two more Road SPVs to Invit at Enterprise Value of Rs 979 cr Hazaribagh Ranchi Expressway Limited (HREL) and Thiruvananthapuram Road Development Company Limited (TRDCL) both transferred to Roadstar Infra Investment Trust ('InvIT') at Enterprise value of Rs 979 crore. Senior Secured lenders of the both the assets -- HREL and TRDCL -- with combined debt of over Rs 630 crore will achieve 100 per cent recovery through restructuring of their debt under InvIT. Some of the Senior Secured lenders of these two projects include: Punjab National Ban...
IL&FS completes transfer of two more Road SPVs to Invit at Enterprise Value of Rs 979 cr
IL&FS completes transfer of two more Road SPVs to Invit at Enterprise Value of Rs 979 cr
Source: IANS
21/12/2022 2:03:45 PM
Indian banks wrote off over $121 billion loans in five years Indian banks have written off loans worth over 10 trillion rupees ($121.05 billion) in the last five financial years in an attempt to clean up their balance sheets, according to the federal government. State Bank of India, the country's largest lender, leads the list with the biggest write-off of 2.04 trillion rupees, the ministry of finance said in a written reply to a question asked in the lower house of the parliament on Monday. Punjab National Bank, another state-owned lender, r...
Indian banks wrote off over $121 billion loans in five years
Indian banks wrote off over $121 billion loans in five years
Source: Reuters
19/12/2022 3:56:51 PM
Indian state-run banks to pass up bonds to focus on lending -analysts Indian state-run banks that sold government bonds in the last few sessions may not immediately turn buyers, as their focus shifts to cutting down investment under the Statutory Liquidity Ratio (SLR) to fund credit growth, analysts said. State-run banks sold bonds worth more than 304 billion rupees ($3.69 billion), on a net basis, in the 25 trading sessions through Dec. 6, data from the Clearing Corp of India showed. "Banks are facing a liquidity crunch, while SLR levels are more th...
Indian state-run banks to pass up bonds to focus on lending -analysts
Indian state-run banks to pass up bonds to focus on lending -analysts
Source: Reuters
8/12/2022 11:56:51 AM
Razorpay allows merchants to accept credit card payments via UPI Fintech platform Razorpay on Monday announced an industry-first move to enable merchants to accept credit card transactions on unified payments interface (UPI), as the digital payments landscape witnesses a stupendous growth. With RuPay credit cards being enabled on UPI, Razorpay merchants can begin accepting credit card payments on UPI, with minimal changes to their existing setup. The company said that move is made possible in partnership with Axis bank, which shares Razorpay's fo...
Razorpay allows merchants to accept credit card payments via UPI
Razorpay allows merchants to accept credit card payments via UPI
Source: IANS
5/12/2022 4:45:49 PM
PNB zooms on getting approval from DIPAM to divest stake in UTI AMC Punjab National Bank is currently trading at Rs. 54.15, up by 3.35 points or 6.59% from its previous closing of Rs. 50.80 on the BSE. The scrip opened at Rs. 51.55 and has touched a high and low of Rs. 55.65 and Rs. 51.25 respectively. So far 12302944 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 55.65 on 25-Nov-2022 and a 52 week low of Rs. 28.05 on 20-Jun-2022. Last one week high and low of the scrip stood a...
PNB zooms on getting approval from DIPAM to divest stake in UTI AMC
PNB zooms on getting approval from DIPAM to divest stake in UTI AMC
Source: Accord Fintech
25/11/2022 1:45:11 PM
Economy doing well, can reach $5 trillion target by 2025-26: Officials India would be able to achieve the target of becoming a $5 trillion dollar economy by 2025-2026 despite the prevailing global headwinds, top officials told a Parliamentary panel on finance on Monday. The officials further said that even as the geopolitical situation is highly volatile due to the Russia-Ukraine war, Indian economy is doing well and at the current growth rate of 6.4 per cent, it would be able to become a $5 trillion dollar economy by 2025-26, sources privy to developments sa...
Economy doing well, can reach $5 trillion target by 2025-26: Officials
Economy doing well, can reach $5 trillion target by 2025-26: Officials
Source: IANS
22/11/2022 10:58:08 AM
PSB stocks on 52-week high riding on record profits, double-digit loan growth Public sector bank stocks have rallied more than 25 per cent post their stellar Q2 financial results with net profit jumping by 50 per cent. Union Bank of India stock price is up by 60.8 per cent over the last month among the PSU bank stocks. Bank of India is up by 56.1 per cent during the month while UCO Bank is up by 32.4 per cent. The Nifty PSU Bank index made a new 52-week high on Friday. The index was up by 21.35 per cent last month. Amber Pabreja, Founder and CEO of Trendlyne, ...
PSB stocks on 52-week high riding on record profits, double-digit loan growth
PSB stocks on 52-week high riding on record profits, double-digit loan growth
Source: IANS
19/11/2022 12:34:30 PM
Rising interest rates will help Indian banks post healthy profits in FY23: S&P The rising interest rates will enable Indian banks to continue posting good profits during the remaining part of FY23, according to S&P Global Market Intelligence. In a report on the Indian banking sector, S&P Global Market Intelligence said five of the six biggest banks by assets in India reported an increase in net income for the fiscal second quarter ended September 30, 2022. "Banks took advantage of the higher interest rate environment to bolster their net interest marg...
Rising interest rates will help Indian banks post healthy profits in FY23: S&P
Rising interest rates will help Indian banks post healthy profits in FY23: S&P
Source: IANS
19/11/2022 11:17:29 AM
`Achieving $5tn economy target possible only by 2030` Owing to volatile geopolitical situations arising due to the Ukraine crisis, rising inflation and after-effects of the coronavirus pandemic, achieving the target of making India a $5 trillion dollar economy by 2024-25 looks difficult and may only be possible by 2030 at the current GDP growth rate, top banking industry representatives have said. Representatives of leading public sector banks are learnt to have indicated this to the high level Parliamentary standing committee on finance. ...
`Achieving $5tn economy target possible only by 2030`
`Achieving $5tn economy target possible only by 2030`
Source: IANS
18/11/2022 9:22:47 AM
IL&FS commences interim distribution payout IL&FS has commenced Interim Distribution pay-out with Rapid Metro Gurgaon Rail Ltd (RMGL), an IL&FS Group company. The Group has completed distribution of Rs 623.38 crore, on an interim basis, to the secured lenders/secured financial creditors of RMGL comprising Union Bank of India, Bank of India, Indian Bank, Punjab & Sind Bank, UCO Bank, Bank of Baroda, Punjab National Bank and Indian Overseas Bank. The total claims of these lenders was Rs 715 crore. This distribution o...
IL&FS commences interim distribution payout
IL&FS commences interim distribution payout
Source: IANS
14/11/2022 12:05:24 PM
India banks reliance on bulk deposits rises amid strong credit growth, tight liquidity Indian banks may rely more on raising funds through certificates of deposits for the rest of the year, as credit demand remains strong and inflows from retail deposits lag, leading to tighter liquidity in the banking system, analysts said. Banks have raised over 3.51 trillion Indian rupees($42.41 billion) through certificate of deposits (CDs)in April-October, 22% higher than the 2.87 trillion rupees raised in 2021-2022, data from Prime Database showed. Mutual funds are the biggest buyers o...
India banks reliance on bulk deposits rises amid strong credit growth, tight liquidity
India banks reliance on bulk deposits rises amid strong credit growth, tight liquidity
Source: Reuters
3/11/2022 4:12:37 PM
Netutral Punjab National Bank Ltd For Target Rs.40 - Motilal Oswal Financial Services Reports mixed performance; elevated provisions dent earnings Asset quality improves in 2QFY23 * PNB reported a mixed business performance in 2QFY23, with a 63% decline in PAT to INR4.1b (58% miss). However, PPOP grew 38% YoY to INR55.7b (in line). Domestic margin expanded by 21bp QoQ to 3.11%. NII/PPOP grew 16%/5% YoY to INR158b/INR109b in 1HFY23, while PAT fell 66% to INR7b. ? On the asset quality front, slippages were lower by 8% QoQ to INR60b (3.6% annualized). Healthy recoveries and...
Netutral Punjab National Bank Ltd For Target Rs.40 - Motilal Oswal Financial Services
Netutral Punjab National Bank Ltd For Target Rs.40 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
3/11/2022 1:01:08 PM
India today shows a picture of optimism and resilience: RBI Governor Retail CBDC pilot to be launched in late November e-Rupee launch a landmark moment Reserve Bank of India Governor, Mr Shaktikanta Das, noted that country's macroeconomic indicators and buffers today make "India a picture of optimism and resilience." He was speaking at FIBAC 2022 – an Annual Banking Conclave organised jointly by FICCI and IBA. Speaking on inflation, the RBI Governor acknowledged that the inflation targets were missed to avoid 'paying a hig...
India today shows a picture of optimism and resilience: RBI Governor
India today shows a picture of optimism and resilience: RBI Governor
Source: PR Agency
3/11/2022 10:55:37 AM
PNB Financial Results for the Quarter Ended 30th September 2022 Key Highlights * Net profit for Q2 FY23 was at Rs.411 Crore and grew 33.4% on QoQ basis. * Operating Profit was at Rs.5567 Crore during Q2 FY23 grew by 38.5% on YoY basis. * Global NIM improved by 61 bps to 3.00% in Q2 FY23 from 2.39% in Q2FY’22. For September’22. * Global NIM for Q2FY23 improved by 21 bps on QoQ basis. * Net interest income increased by 30.2% YoY to Rs.8271 Crore in Q2 FY23. * Cost to income ratio for Q2 FY23 was at 49.93% an improvement of 834 ...
PNB Financial Results for the Quarter Ended 30th September 2022
PNB Financial Results for the Quarter Ended 30th September 2022
Source: PR Agency
2/11/2022 1:46:07 PM
PNB Introduces Revamped PNB One Aone-stop digital platform for financially inclusive solutions New Delhi: Punjab National Bank (PNB),nation’s leading public sector bank,revamps its mobile Banking App,PNBOnewith its varied features from account statements, funds transfers, and balance inquiries to Cardless Cash withdrawals, Preapproved Personal loans, Prequalified Credit Card etc The advanced interface will offer exclusive services for farmers by introducing the optionof Kisan Credit Card (KCC) digital renewalfacility which will enable eligible customers to renew their KCC acco...
PNB Introduces Revamped PNB One Aone-stop digital platform for financially inclusive solutions
PNB Introduces Revamped PNB One Aone-stop digital platform for financially inclusive solutions
Source: PR Agency
19/10/2022 11:48:30 AM
Punjab National Bank introduces Banking Services through WhatsApp for customers and noncustomers New Delhi, October 03, 2022:? In an effort to make banking services more accessible, Punjab National Bank (PNB), nation’s leading public sector bank, has introduced Banking services through WhatsApp for both customers and non-customers. The new service was launched by Shri Atul Kumar Goel, PNB MD & CEO, along with PNB Executive Directors Shri Sanjay Kumar, Shri Vijay Dube, and Shri Kalyan Kumar, and other senior officials including CGMs and GMs, at the PNB Headquarters in New Delhi ...
Punjab National Bank introduces Banking Services through WhatsApp for customers and noncustomers
Punjab National Bank introduces Banking Services through WhatsApp for customers and noncustomers
Source: PR Agency
4/10/2022 4:22:28 PM
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore As banks' outstanding dues shot up to a whopping Rs 8.58 lakh crore, Maharashtra and Delhi top the list of defaulters, as per the latest official data of TransUnion CIBIL Ltd. The figures show that as on March 31, 2022, there were 30,359 records of borrowers with defaults of Rs one crore and above, with recovery suits filed against them by various banks, totalling to outstanding of Rs 858,396.32 crore. This amount has more than tripled since March 31, 2017 -- from 17,236 accounts ...
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore
Source: IANS
28/09/2022 3:19:35 PM
Indian banks may raise more funds to meet credit needs, lock rates  Indian banks may continue their fundraising spree in the next few months by issuing Basel III-compliant and infrastructure bonds as they rush to meet rising credit demand and lock in funds at cheaper rates, analysts said. "All banks are in need of funds as second half is expected to see a pick up in credit offtake, and currently investor appetite is favourable," said Venkatakrishnan Srinivasan, founder and managing partner at debt advisory firm Rockfort Fincap. "We ...
Indian banks may raise more funds to meet credit needs, lock rates
Indian banks may raise more funds to meet credit needs, lock rates
Source: Reuters
22/09/2022 3:13:31 PM
Punjab National Bank surges on raising Rs 658 crore through bonds Punjab National Bank is currently trading at Rs. 40.70, up by 0.55 points or 1.37% from its previous closing of Rs. 40.15 on the BSE. The scrip opened at Rs. 39.85 and has touched a high and low of Rs. 41.20 and Rs. 39.85 respectively. So far 4381820 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 47.60 on 26-Oct-2021 and a 52 week low of Rs. 28.05 on 20-Jun-2022. Last one week high and low of the scrip stood at...
Punjab National Bank surges on raising Rs 658 crore through bonds
Punjab National Bank surges on raising Rs 658 crore through bonds
Source: Accord Fintech
22/09/2022 2:38:53 PM
Punjab National Bank wins Rajbhasha Kirti Puraskar PNB won the “Rajbhasha Kirti” 2nd prizeand Delhi Bank Narakas (Convenor: Punjab National Bank) “Rajbhasha Kirti” 1st prize for the FY 2021-22. These “Rajbhasha Kirti” prizes were presented to MD & CEO Shri Atul Kumar Goel & Shri Sameer Bajpai, Chairman, Delhi Bank Town Official Language Implementation Committee (Zonal Manager and Chief General Manager, Delhi and NCR, Punjab National Bank) in the presence of Shri Amit Shah, Hon'ble Unio...
Punjab National Bank wins Rajbhasha Kirti Puraskar
Punjab National Bank wins Rajbhasha Kirti Puraskar
Source: PR Agency
16/09/2022 5:31:04 PM
PNB gains on rolling out pre-qualified credit card Punjab National Bank is currently trading at Rs. 32.50, up by 0.10 points or 0.31% from its previous closing of Rs. 32.40 on the BSE. The scrip opened at Rs. 32.10 and has touched a high and low of Rs. 32.75 and Rs. 32.10 respectively. So far 937056 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 47.60 on 26-Oct-2021 and a 52 week low of Rs. 28.05 on 20-Jun-2022. Last one week high and low of the scrip stood at ...
PNB gains on rolling out pre-qualified credit card
PNB gains on rolling out pre-qualified credit card
Source: Accord Fintech
23/08/2022 11:53:38 AM