Punjab National Bank Q3

 

Despite its net profit taking a hit, Punjab National Bank has announced a 100% dividend, meaning every shareholder will get 10 for each share he holds. On the financial front, higher provisioning saw the bank’s net profit decline by over 42% for the three-month period that ended on December 31, 2013. However, the bank’s management claimed that the worst is over and the current fiscal year will end with better earnings. The bank recorded a net profit of 755 Cr during the three-month period ended December 2013 as against 1,306 Cr in the corresponding period last year. Announcing the results here, its Chairman K.V. Kamath said that the bank is back on the growth path and “it will end the current fiscal at par with the industry.” Indeed, some positive signs emerged in the third quarter as fresh accretion in bad loans came down to 1,500 Cr from over 3,000 Cr during previous quarters. At the same time, the net interest margin went up to 3.57% during the quarter from 3.47% in the corresponding period of 2012-13.

Punjab National Bank Q3

 

Despite its net profit taking a hit, Punjab National Bank has announced a 100% dividend, meaning every shareholder will get 10 for each share he holds. On the financial front, higher provisioning saw the bank’s net profit decline by over 42% for the three-month period that ended on December 31, 2013. However, the bank’s management claimed that the worst is over and the current fiscal year will end with better earnings. The bank recorded a net profit of 755 Cr during the three-month period ended December 2013 as against 1,306 Cr in the corresponding period last year. Announcing the results here, its Chairman K.V. Kamath said that the bank is back on the growth path and “it will end the current fiscal at par with the industry.” Indeed, some positive signs emerged in the third quarter as fresh accretion in bad loans came down to 1,500 Cr from over 3,000 Cr during previous quarters. At the same time, the net interest margin went up to 3.57% during the quarter from 3.47% in the corresponding period of 2012-13.

Punjab National Bank Q3

 

Despite its net profit taking a hit, Punjab National Bank has announced a 100% dividend, meaning every shareholder will get 10 for each share he holds. On the financial front, higher provisioning saw the bank’s net profit decline by over 42% for the three-month period that ended on December 31, 2013. However, the bank’s management claimed that the worst is over and the current fiscal year will end with better earnings. The bank recorded a net profit of 755 Cr during the three-month period ended December 2013 as against 1,306 Cr in the corresponding period last year. Announcing the results here, its Chairman K.V. Kamath said that the bank is back on the growth path and “it will end the current fiscal at par with the industry.” Indeed, some positive signs emerged in the third quarter as fresh accretion in bad loans came down to 1,500 Cr from over 3,000 Cr during previous quarters. At the same time, the net interest margin went up to 3.57% during the quarter from 3.47% in the corresponding period of 2012-13.

New IBA Chairman

Mr. K.R.Kamath, CMD of Punjab National Bank has been choosen as Chairman of Indian Bank's Association (IBA) wef 1st October 2012.

Recruitment - Punjab National Bank

Punjab National Bank (PNB) invites online applications for following Clerical post from Indian citizens who have taken the Common Written Examination (CWE) for recruitment in Clerical cadre conducted by IBPS in Nov-Dec 2011:

Single Window Operator A (Clerk) : 2985 posts in various states

(UR-1611 ,SC-695, ST-166, OBC-513) (PH-90, Ex.SM-420),

Pay Scale : Rs.7200-19300/-,

Age : 20-25 years,, relaxation in age as per rules.

Application Fee : Rs.100/- (Rs.20/- for SC/ST/PC/EXSM candidates) to be deposited any Branch of PNB through a voucher challan which is available on PNB website.

How to Apply : Apply Online only at Punjab National Bank website from 26/09/2012 to 10/10/2012.

Kindly click link below for more details and to apply online:

Apply online here

PNB ties up with SMC, Networth Stock Broking for online trading

Punjab National Bank (PNB) on Monday entered into a tie-up with SMC and Networth Stock Broking Ltd, two brokerage houses, to provide online trading services in equities, commodities and mutual funds among others to its customersThis alliance would give a “3-in-1 account offering” comprising of savings account, demat and trading account together. PNB Chairman & Managing Director, Dr K.C. Chakrabarty, said the bank aims to have 15 crore customers in the next five years from the current level of about 3.8 crore. “Of this 15 crore customers, we hope at least 20 per cent of them would trade in equities through our e-trading facility. We want more of our customers to invest in equities and hence this alliance.”

PNB’s second branch in Hong Kong

Punjab National Bank (PNB) has opened its second branch in Hong Kong. The new branch is in the Kowloon area and will focus on retail banking operations.The formal inaugural function was presided over by the PNB Chairman and Managing Director, Dr K.C. Chakrabarty, and the Consul General of India, Mr L.D. Ralte. PNB had opened its first branch in Hong Kong in December 2007. This branch, located in the main Hong Kong island, is focusing on wholesale banking. The business of this branch crossed $1 billion in the first year of its operations itself. PNB has also started the process to upgrade its Shanghai representative office into a full-fledged commercial banking branch.

PNB to go solo on credit card before November

Punjab National Bank plans to roll out its own credit card product much in advance of November, when its existing co-branding tie-up with HSBC is due for expiry. Faced with delays in regulatory clearances, PNB has now dropped the joint venture route for launching its credit card business. “If need be, we can always form a joint venture subsequently,” Dr K.C. Chakrabarty, Chairman and Managing Director of PNB, told. Although the tie-up with HSBC was valid till November 2008, it would expire the moment PNB launches its own credit card. As the card issuer, HSBC played the dominant role and did the credit assessment. “Wherever Indian population goes and Indian trade goes, we will go there. We are looking at Indonesia, Norway, Australia and New Zealand. Next stage, we may look at Africa and Latin America,” Dr Chakrabarty said. PNB already has international presence at London, Hong Kong, Kabul, Shanghai, Almaty and Dubai.