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India

Punjab National Bank (PNBK.NS)

PNBK.NS on National Stock Exchange of India

75.75INR
16 Jul 2019
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Latest Key Developments (Source: Significant Developments)

India's ED Attached Properties, Valuables, Mercedes Benz, Fixed Deposit Of Mehul Choksi
Thursday, 11 Jul 2019 

July 11 (Reuters) - Gitanjali Gems Ltd ::INDIA'S ED ATTACHES PROPERTIES IN DUBAI, VALUABLES, 1 MERCEDES BENZ, FIXED DEPOSIT OF 248 MILLION RUPEES OF MEHUL CHOKSI IN BANK FRAUD CASE-TWEET.  Full Article

India's ED Says Singapore HC Ordered Attachment Of Bank Account In Nirav Modi Case - Tweet
Tuesday, 2 Jul 2019 

July 2 (Reuters) - Enforcement Directorate::INDIA'S ED SAYS SINGAPORE HIGH COURT ORDERED ATTACHMENT OF BANK ACCOUNT WITH $6.122 MILLION BALANCE ON ED'S REQUEST IN NIRAV MODI CASE - TWEET.  Full Article

India's Punjab National Bank Exec Says Jet Airways Not Classified As NPA Yet
Tuesday, 28 May 2019 

May 28 (Reuters) - Punjab National Bank Exec ::FRESH SLIPPAGE OF 67.10 BILLION RUPEES IN Q4; WRITE OFF OF 29.81 BILLION RUPEES IN QUARTER.PUNJAB NATIONAL BANK EXEC SAYS MIGHT GET WRITE BACK OF 40 BILLION RUPEES IN COMING QUARTERS FROM NCLT CASES.PUNJAB NATIONAL BANK EXEC SAYS JET AIRWAYS HAS NOT CLASSIFIED AS NPA YET.PUNJAB NATIONAL BANK EXEC SAYS HAVE MADE PROVISIONS FOR IL&FS AND JET AIRWAYS AS PER REGULATORY NORMS.PUNJAB NATIONAL BANK EXEC SAYS WE EXPECT A POSITIVE OUTCOME FROM JET AIRWAYS TALKS.PUNJAB NATIONAL BANK EXEC SAYS HAVE BEEN PROVIDING LIQUIDITY TO GOOD QUALITY NBFCS; WILL CONTINUE TO SUPPORT THE SECTOR.PUNJAB NATIONAL BANK EXEC SAYS YET TO HEAR ABOUT MERGER PLANS FROM GOVERNMENT.PUNJAB NATIONAL BANK EXEC SAYS FY20 BAD LOAN RECOVERY EXPECTED TO BE MORE THAN 200 BILLION RUPEES.PUNJAB NATIONAL BANK EXEC SAYS PNB'S JET AIRWAYS EXPOSURE IS LESS THAN 9 BILLION RUPEES.  Full Article

India's Punjab National Bank March-Qtr Net Loss Narrows
Tuesday, 28 May 2019 

May 28 (Reuters) - Punjab National Bank ::MARCH QUARTER NET LOSS OF 47.50 BILLION RUPEES VERSUS LOSS OF 134.17 BILLION RUPEES LAST YEAR.CONSENSUS FORECAST FOR MARCH QUARTER NET PROFIT WAS 1.66 BILLION RUPEES.MARCH QUARTER INTEREST INCOME 128.36 BILLION RUPEES VERSUS 113.85 BILLION RUPEES LAST YEAR.QTRLY DOMESTIC NIM 2.45% VERSUS 1.90%.MARCH QUARTER PROVISIONS 76.11 BILLION RUPEES VERSUS 129.70 BILLION RUPEES LAST YEAR.MARCH QUARTER GROSS NPA 15.50 PERCENT.NET NPA AT THE END OF MARCH 31 AT 6.56%.PROVISION COVERAGE RATIO UP TO 74.5% AT MARCH 2019 FROM 58.42% YEAR AGO.  Full Article

PNB CEO & MD Mehta Says SBI Working On Emergency Funding For Jet Airways
Tuesday, 16 Apr 2019 

April 16 (Reuters) - PNB CEO And MD Sunil Mehta::PNB CEO AND MD SUNIL MEHTA SAYS SBI WORKING ON EMERGENCY FUNDING FOR JET AIRWAYS; EVERYTHING IS UNDER DISCUSSION, NOTHING FINALISED.PNB CEO AND MD SUNIL MEHTA SAYS LENDERS COMMITTED TO REVIVAL PLAN OF JET AIRWAYS; SBI AND SBI CAPS WORKING ON JET PACKAGE.  Full Article

Punjab National Bank Says Brickwork Upgraded Outlook To Stable On Certain Debt Instruments
Tuesday, 2 Apr 2019 

April 2 (Reuters) - Punjab National Bank ::BRICKWORK UPGRADED OUTLOOK TO STABLE FROM NEGATIVE ON CERTAIN OF CO'S DEBT INSTRUMENTS.  Full Article

Punjab National Bank Says Sold Entire Stake In Experian Credit Information Co
Friday, 29 Mar 2019 

March 29 (Reuters) - Punjab National Bank ::SOLD ENTIRE STAKE OF 4.2 MILLION UNLISTED EQUITY SHARES IN EXPERIAN CREDIT INFORMATION COMPANY OF INDIA PVT. LTD. ON MARCH 28.  Full Article

PNB Says Agreement For Sale Of 10.9 Mln PNB Housing Finance Shares To General Atlantic Group
Friday, 29 Mar 2019 

March 29 (Reuters) - Punjab National Bank ::PUNJAB NATIONAL BANK - ENTERED INTO AGREEMENT FOR SALE OF 10.9 MILLION SHARES HELD IN PNB HOUSING FINANCE TO GENERAL ATLANTIC GROUP FOR 9.26 BILLION RUPEES.PUNJAB NATIONAL BANK - ENTERS AGREEMENT FOR SALE OF 10.9 MLN SHARES OF PNBHF TO VARDEPARTNERS FOR 9.26 BLN RUPEES.  Full Article

Punjab National Bank Expects To Bring Down Gross NPA By At Least 200 BPS In Current Qtr - CEO
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Punjab National Bank CEO Sunil Mehta::CEO SAYS AS A STRATEGY, BANK TO FOCUS ON DOMESTIC BUSINESS, SHUN OVERSEAS BUSINESS.CEO SAYS BANK TO RECRUIT ABOUT 4000 TO 5000 EMPLOYEES.CEO SAYS BANK HAS MADE A PROVISION OF 3.31 BILLION RUPEES FOR SLIPPAGE IN IL&FS ACCOUNT.CEO SAYS CURRENT NPA IN MUDRA LOANS IS ABOUT 12 PERCENT, IN SMALL BUSINESS LOANS AROUND 14 PERCENT.CEO SAYS EXTENT OF SHARE SALE IN PNB HOUSING FINANCE TO DEPEND ON BID VALUE;LAST DATE FOR BIDS IS FEB 8.CEO SAYS EXPECT 10 PERCENT LOAN GROWTH IN NEXT FINANCIAL YEAR.CEO SAYS CO EXPECTS AT LEAST 25 PERCENT RECOVERY ON AVERAGE IN INSOLVENCY CASES.EXEC SAYS CO EXPECTS TO BRING DOWN GROSS NPA BY AT LEAST 200 BASIS POINTS IN CURRENT QUARTER.  Full Article

Punjab National Bank Exec Says Total Recovery Of Stressed Loans In First 3 Qtrs At 166.08 Bln Rupees
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Punjab National Bank Exec::EXEC SAYS TOTAL RECOVERY OF STRESSED LOANS IN FIRST THREE QUARTERS TOUCHED 166.08 BILLION RUPEES .EXEC SAYS CO'S GROSS OVERSEAS BUSINESS DOWN 39.8 PERCENT Y-O-Y IN FIRST 9 MONTHS TO DEC QUARTER TO 585.73 BILLION RUPEES.EXEC SAYS WRITTEN OFF LOANS AMOUNTING TO 30.82 BILLION RUPEES IN Q3 VERSUS 35.43 BILLION RUPEES IN Q2.  Full Article

RPT-India's PNB slides after reporting suspected fraud at Bhushan

MUMBAI, July 8 Shares in Punjab National Bank slid after the lender said it had reported a suspected 38 billion rupee ($554.63 million) fraud in Bhushan Power & Steel Ltd's account, potentially delaying a sale of the firm's assets and consequent repayments to creditors.