PNB raises ₹1,800 cr via QIP; offers shares at 33.75 per unit

Punjab National Bank has raised ₹1,800 crore by selling 53 crore shares on a private placement basis to investors like LIC and Societe Generale, the public sector bank said on Saturday. Eligible Qualified Institutional Buyers (QIBs) were given the share at an issue price of ₹33.75 per unit aggregating to ₹1,799.99 crore, PNB said in … Read more

PNB incorporates PNB Cards & Services for credit card business

Public sector lender Punjab National Bank on Wednesday said it has incorporated a wholly-owned subsidiary, PNB Cards & Services Limited, which will deal with the banks’ non-financial support services related to its credit card business. “The exchange is hereby informed that a wholly-owned subsidiary of the bank namely PNB Cards & Services Limited has been … Read more

PNB receives loan rejig requests of only Rs 12,000 crore, says PNB MD

Punjab National Bank, the second-largest public sector lender, has received loan restructuring requests worth Rs 12,000 crore out of the 40,000 crore it had anticipated on account of stress due to the Covid-19 pandemic on businesses and individuals, the bank’s Managing Director Mallikarjuna Rao said. Out of the total restructuring requests, restructuring sought for corporate … Read more