PUNJAB NATIONAL BANK
Punjab National Bank (PNB) is an Indian government-owned bank with headquarters in New Delhi. It is under the ownership of the Ministry of Finance, Government of India. The bank was founded in 1894 and is the second-largest government-owned bank in India, both in terms of business and its network. The bank has over 180 million customers, 12,248 branches and 13,000+ ATMs post-merger with United Bank of India and Oriental Bank of Commerce, effective from 1 April 2020.
There are six subsidiaries of PNB: – PNB Housing Finance Ltd, PNB MetLife India Insurance Company Co. Ltd, PNB Investments Services Ltd, PNB (International) Ltd, PNB Gilts Limited, PNB Cards and Services Ltd.
PNB has a banking subsidiary in the UK (PNB International Bank, with seven branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai, and Kabul. It has representative offices in Almaty (Kazakhstan), Dubai (United Arab Emirates), Shanghai (China), Oslo (Norway), and Sydney (Australia). In Bhutan it owns 51% of Druk PNB Bank, which has five branches. In Nepal PNB owns 20% of Everest Bank Limited, which has 50 branches. Lastly, PNB owns 41.64% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.
As of the year, ended 31st March 2021, total income fell by 3.63% and stood at Rs.22,779.56 crores for Q4FY21, as compared to Rs.23,639.41 crores in Q3FY21, net profit is Rs.546.78 crores (6.67% less than Q3) in Q4FY21 against Rs.585.77 crores in Q3FY21. CASA ratio as of March 31, 2021, stood at 45.5% compared to 42.01% as of March 31, 2020, GNPA is 14.12% & NNPA is 5.73%. As of March 31, 2021, and Net Interest Income (NII) for Q4FY21 increased to Rs. 6,938 crores, from Rs. 6,810 crores in Q4FY20.
The Q4 results of PNB were rectitude.
