Punjab National Bank (PNB)

PNB Seeks Government Help for Project Financing - 16 May, 2024

Punjab National Bank (PNB) seeks government assistance to ease Reserve Bank of India (RBI) guidelines on project financing. PNB reported a 160% increase in profit after tax during Q4FY24.

Motilal Oswal Gives Neutral Rating to Punjab National Bank with Revised Target Price - 15 May, 2024

Punjab National Bank (PNB) reported a 4QFY24 PAT of INR30.1b, led by controlled provisions and robust other income. Opex was elevated and led to a 10% miss on PPoP. NII grew 9% YoY to INR104b while NIM contracted 5bp QoQ to 3.1%. PNB expects credit cost and slippages to be contained at <1% and projects RoA at 1% by 4QFY25. Motilal Oswal has given a neutral rating to PNB with a revised target price of INR 130.

PNB Warns Customers Against Fraudulent Activities - 14 May, 2024

Punjab National Bank has warned its customers against fraudulent activities by individuals pretending to be bank officials. The bank has also set limits on cash transactions and launched new toll-free numbers for customer support.

PNB Increases Dividend Payment - 12 May, 2024

Punjab National Bank has announced an increase in its dividend payment to Rs 1.50, bringing the dividend yield to 1.2%. The company's latest earnings report shows a comfortable payout ratio of 18%, with analyst estimates suggesting potential for future growth. While PNB has experienced some instability in its dividend history, it remains a strong income stock with solid potential.

Punjab National Bank Reports Strong FY 2024 Earnings - 11 May, 2024

Punjab National Bank's full-year 2024 earnings show a significant increase in revenue, net income, and profit margin. The bank is forecasting continued growth in revenue over the next three years, outpacing industry forecasts.

PNB Plans Share Sale and Reports Strong Q4 Results - 10 May, 2024

Punjab National Bank plans to raise $898 million through a Qualified Institutional Placement (QIP) and aims to close the share sale within six months. The bank reported a strong Q4 FY24 performance with its net profit more than doubling YoY to Rs 3,010 crore. However, brokerages have varying perspectives on PNB stock.

PNB Reports Strong Q4 FY24 Results - 09 May, 2024

Punjab National Bank (PNB) reported a 160% surge in net profit for Q4 FY24, with gross non-performing assets declining to 5.73%. PNB also reversed provisions on investments in alternative investment funds and plans to seek clarification from the RBI on proposed infrastructure financing guidelines. Total income grew by 18.7% YoY to Rs 32,361 crore.

PNB Warns Account Closure; Zee Business Estimates Profit Increase - 08 May, 2024

Punjab National Bank warns of account closures and Zee Business predicts a significant increase in the bank's Q4FY24 profit. However, RBI's proposed norms to tighten project financing may pose funding challenges for PNB.

PSU Bank Stocks Continue to Fall on RBI's Draft Rules - 07 May, 2024

Shares of state-owned lenders, including Punjab National Bank, continued to fall for the second day in a row due to the Reserve Bank of India's draft rules proposing tighter project financing regulations. PNB saw its market valuation fall by Rs 11,000 crore since the beginning of May, contributing to almost 60% of the Nifty PSU Bank index's decline.

PNB Stock Falls Due to Stricter RBI Lending Norms - 06 May, 2024

Punjab National Bank (PNB) stock falls by 5.2% as PSU bank stocks underperformed following RBI's proposal for tighter project finance norms. Other PSU banks like Canara Bank, BOI, BOB, and Union Bank also saw a decline.

PNB Revises FD Interest Rates - 01 May, 2024

Punjab National Bank has revised its fixed deposit interest rates for deposits below Rs 2 crore, effective from April 12, 2024. The bank offers FD interest rates between 3.50% to 7.25% for regular citizens, 4% to 7.75% for senior citizens, and 4.30% to 8.05% for super senior citizens. PNB has also reduced the interest rate by 10 basis points on 1204 days and 15 bps on 1895 days.

Punjab National Bank Stock Rises for Fifth Straight Session - 30 Apr, 2024

Punjab National Bank stock is up 0.62% on the day, quoting at Rs 138.1 as of 12:44 IST on NSE. The bank has risen around 9.95% in the last one month with a PE ratio of 23.62 based on TTM earnings ending December 2023.

NCLAT Upholds Liquidation Value for ITPCL Provided by PNB - 28 Apr, 2024

The National Company Law Appellate Tribunal (NCLAT) has dismissed State Bank of India's (SBI) objections to the liquidation value of IL&FS Tamil Nadu Power Company Ltd (ITPCL) provided by Punjab National Bank (PNB), citing its acceptance in a prior order. Despite disagreements over the valuation date, NCLAT upheld the earlier liquidation value and affirmed communication of the same to all parties.

PNB Reports Growing Profits, Income; NCLT Admits CIRP Against Arshiya Ltd. - 24 Apr, 2024

Punjab National Bank reports increasing profits and total income, accompanied by FII/FPI increasing their stake. Meanwhile, the National Company Law Tribunal has admitted PNB's application for a corporate insolvency resolution process against Arshiya Ltd.

Punjab National Bank Economist Writes Study on Indian OIS Market - 20 Apr, 2024

Dipanwita Dutta, an economist at Punjab National Bank, has written a study on the Indian OIS market. The study explains how financial institutions can swap interest rates without refinancing or changing loan terms.

PNB Announces Revised RTGS and NEFT Charges - 17 Apr, 2024

Punjab National Bank has announced revised charges for RTGS, NEFT, and IMPS transactions effective from October 12, 2023. The new charges are applicable to branch, online, CC/OD, saving account, and current account transactions. The charges range from Rs. 1.75 to Rs. 49.50 for NEFT and Rs. 24.00 to Rs. 49.50 for RTGS depending on the transaction amount. IMPS transactions up to Rs. 1000 will be free of charge.