| Punjab National Bank Related news |
Punjab National Bank shares fall post Q1 results, brokerages divided; Religare quotes target price at Rs 70
Posted on 29th July 2016 |
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Brokerage are divided on Punjab National Bank shares after the public sector bank reported 57.49 per cent fall in net profit at Rs 306.36 crore for the quarter ended June 30, 2016 against Rs 720.71 crore in the corresponding quarter a year ago. Religare Institutional Equities in a research report said, “We continue to believe that mounting provisions and sustained pressure on asset quality and margins will keep earnings soft. We maintain ‘Sell’ on Punjab National Bank shares with a March 2017 target price of Rs 70. |
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PNB Q1 net profit at Rs 306 crore; beats estimate
Posted on 28th July 2016 |
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NEW DELHI: Punjab National Bank (PNB) reported a 57.5 per cent YoY fall in net profit to Rs 306 crore for the quarter ended June 30 which was better than ET Now estimate of Rs 226 crore. PNB reported a net profit of Rs 721 crore in the year-ago period and a loss of Rs 5,367 crore recorded in the previous quarter. |
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Punjab National Bank gains over 8 per cent as RBI allows foreign investors to buy shares
Posted on 11th July 2016 |
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Punjab National Bank (PNB) shares gained over 8 per cent on Monday after the Reserve Bank of India removed the public sector bank from the caution list and allowed foreign investors to buy its shares. The scrip later closed 8.21 per cent up at Rs 127.25. The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs 180.50 on Aug 17, 2015 and a 52 week low of Rs 69.40 on Feb 17, 2016. |
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PNB identifies 53 corporate accounts for sale to ARCs
Posted on 25th May 2016 |
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Taking a step towards cleaning up its balance sheet, the Punjab National Bank (PNB) has identified 53 corporate non-performing loans worth Rs 6,300 crore for sale to asset reconstruction companies (ARCs). The state-owned bank, which has substantial exposure to stressed sectors such as steel, will desist from additional lending to these sectors till the tide turns. |
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Punjab National Bank posts record loss of Rs 5,367 cr, here is what it needs to do to regain glory
Posted on 20th May 2016 |
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The massive Rs 5,367 crore loss registered by Punjab National Bank (PNB) for the quarter-ended March 31, 2016, the largest ever loss by an Indian bank, has come as a shocker to former chairmen-and-managing-director of the bank. Two former CMDs of PNB, S S Kohli and S C Gupta, who led the bank for a seven-year period starting 2000, told FeMoney that the extent of loss was beyond their imagination. They suggested the bank should work out a concerted medium-term plan to extricate itself out of the slump. |
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PNB posts Q4 loss of Rs 5,367 cr, highest ever among listed Indian banks
Posted on 18th May 2016 |
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In the biggest ever quarterly loss ever recorded by any listed Indian bank, public sector lender Punjab National Bank (PNB) on Wednesday slipped into a deep shade of red with a loss of Rs 5,367.14 crore for the quarter ended March 2016, down from a net profit of Rs 306.56 crore for the corresponding period of the previous fiscal. As with other public sector banks who are struggling with high non-performing assets (NPAs), PNB's loss, too, stems from having to set aside large sums of capital for bad loans. Provisioning for NPAs grew almost threefold to Rs 10,485.23 crore in the fourth quarter compared with Rs 3,834.19 crore in the previous fiscal. |
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PNB Housing launches new home loan scheme for Rs 10,000 income and above
Posted on 28th April 2016 |
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In a bid to support government’s vision of ‘Housing for All by 2022’, PNB Housing Finance Ltd on Thursday launched a special home loan scheme that can be availed by the salaried and self-employed professionals for a amount up to Rs 25 lakhs. The loan can be availed by individuals with income starting from Rs 10,000 per month and above. The move that would bring cheers to middle and lower income segment will enable them realise their dream of owning a home at affordable Equated Monthly Instalments (EMIs). |
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PNB Housing raises Rs 500 cr for green residential projects
Posted on 6th April 2016 |
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PNB Housing Finance has raised Rs 500 crore by issuing bonds to World Bank arm International Finance Corporation (IFC) for funding its green residential projects. "PNB Housing Finance has issued secured fixed rate NCDs to IFC to raise Rs 500 crore for funding green residential projects", the company said in a release today. |
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Bank of India to get Rs 1,150 crore capital infusion from govt
Posted on 29th March 2016 |
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State-run Bank of India (BoI) on Tuesday said the government has approved a capital infusion of Rs 1,150 crore in lieu of preferential allotment of shares. "The government of India has conveyed their approval to infuse capital funds to the tune of Rs 1,150 crore in the bank by way of preferential allotment of equity shares in favour of government of India," BoI said in a statement. |
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PSU banks rally after RBI new Basel norms; SBI, BOB surge over 8%
Posted on 2nd March 2016 |
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Banking shares mainly public sector undertakings (PSUs) have rallied by up to 13% on the National Stock Exchange (NSE) in early morning trade after the Reserve Bank of India (RBI) has allowed banks to beef up its capital adequacy by including certain items such as property value, foreign exchange for calculation of its Tier-I capital. State Bank of India (SBI), Bank of Baroda (BOB), Bank of India (BOI), Indian Bank, Union Bank of India, Canara Bank and Punjab National Bank are among few rallied more than 6% on the NSE. |
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