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{{Short description|Indian public sector bank}} | {{Short description|Indian public sector bank}} | ||
{{Use Indian English|date=September 2023}} | |||
{{Use Indian English|date=September | {{Use dmy dates|date=December 2023}} | ||
{{Use dmy dates|date= | |||
{{Infobox company | {{Infobox company | ||
| name = Punjab National Bank | | name = Punjab National Bank | ||
| Line 9: | Line 8: | ||
| logo_caption = | | logo_caption = | ||
| image = PNB Head Office.jpg | | image = PNB Head Office.jpg | ||
| image_alt = Headquarters in New | | image_alt = Headquarters in New Delhi | ||
| image_caption = | | image_caption = Headquarters in [[Dwarka, Delhi]] | ||
| type = [[Public company|Public]] | | type = [[Public company|Public]] | ||
| traded_as = {{BSE|532461}}<br />{{NSE|PNB}} | | traded_as = {{BSE|532461}}<br />{{NSE|PNB}} | ||
| industry = [[Bank]]ing, [[Financial services]] | | industry = [[Bank]]ing, [[Financial services]] | ||
| foundation = {{Start date and age|df=y| | | foundation = {{Start date and age|df=y|1894|05|19}}<ref name=Origin/><ref>{{cite web |url=http://profit.ndtv.com/stock/punjab-national-bank_pnb/reports |title=History of PNB |publisher=NDTV.com |access-date=18 February 2014 |archive-date=26 February 2014 |archive-url=https://web.archive.org/web/20140226063829/http://profit.ndtv.com/stock/punjab-national-bank_pnb/reports |url-status=dead }}</ref> | ||
| founder = {{ubl|[[Dyal Singh Majithia]]|[[Lala | | founder = {{ubl|[[Dyal Singh Majithia]]|[[Lala Harkishen Lal]]}} | ||
| location = [[Dwarka, Delhi]], India | | location = [[Dwarka, Delhi]], India | ||
| key_people = {{ubl|K G Ananthakrishnan | | key_people = {{ubl|K G Ananthakrishnan (Non-Executive Chairman) | Ashok Chandra (MD & CEO)<ref>{{cite web|url=https://www.pnbindia.in/BoardofDirectors.aspx|title=board of directors|access-date=21 January 2019|archive-date=9 July 2019|archive-url=https://web.archive.org/web/20190709070741/https://www.pnbindia.in/BoardofDirectors.aspx|url-status=live}}</ref>}} | ||
| products = [[ | | products = {{ubl|[[Retail banking]]|[[Corporate banking]]|[[Investment banking]]|[[Mortgage loan]]s| [[Private banking]]|[[Wealth management]]|[[Asset management]]|[[Investment management]]|[[Credit cards]]|[[Insurance]] }} | ||
| revenue = {{increase}} {{INRConvert| | | revenue = {{increase}} {{INRConvert|1.38|lc}} | ||
| revenue_year = | | revenue_year = 2025 | ||
| operating_income = {{increase}} {{INRConvert| | | operating_income = {{increase}} {{INRConvert|26831|c}}{{Citation needed|date=November 2025}} | ||
| income_year = | | income_year = 2025 | ||
| net_income = {{ | | net_income = {{up}} {{INRConvert|16630|c}}{{Citation needed|date=November 2025}} | ||
| net_income_year = | | net_income_year = 2025 | ||
| assets = {{increase}} {{INRConvert| | | assets = {{increase}} {{INRConvert|18.18|lc}}{{Citation needed|date=November 2025}} | ||
| assets_year = | | assets_year = 2025 | ||
| equity = {{increase}} {{INRConvert| | | equity = {{increase}} {{INRConvert|1.08|lc}}{{Citation needed|date=November 2025}} | ||
| equity_year = | | equity_year = 2024 | ||
| owner = [[Government of India]] | | owner = [[Government of India]] (70.08%) | ||
| parent = | | parent = | ||
| num_employees = | | num_employees = 1,02,746 (2025)<ref>{{Cite web |title=Employee strength of Public Sector Banks |url=https://sansad.in/getFile/annex/268/AU259_JW71fE.pdf?source=pqars |access-date=2025-07-24 |publisher=Government of India, Ministry of Finance}}</ref> | ||
| | | num_locations = 10,189 branches and 11,822 ATMs (2025) | ||
| subsid = PNB MetLife India Insurance Company<br/>[[PNB Housing Finance Limited]]<br/>PNB Cards and Services Limited | |||
| subsid = | |||
| ratio = 14.14% (2020) | | ratio = 14.14% (2020) | ||
| homepage = {{URL|https:// | | homepage = {{ubl|{{URL|https://pnb.bank.in/}}|{{URL|https://ibanking.pnb.bank.in/}}}} | ||
}} | }} | ||
'''Punjab National Bank''' | '''Punjab National Bank''', also known as '''PNB''', is an [[Public sector banks in India|Indian public sector bank]] based in [[New Delhi]].<ref>{{Cite web |title=Domestic Branches and ATMs |date=25 January 2024 |url=https://www.moneycontrol.com/news/business/punjab-national-bank-q3-results-net-profit-jumps-three-times-asset-quality-improves-12123471.html |access-date=27 January 2024 |archive-date=27 January 2024 |archive-url=https://web.archive.org/web/20240127201053/https://www.moneycontrol.com/news/business/punjab-national-bank-q3-results-net-profit-jumps-three-times-asset-quality-improves-12123471.html |url-status=live }}</ref> Founded in May 1894, the bank has 10,189 branches and 11,822 [[Automated teller machine|ATMs]] as of March 2025.<ref>{{cite web |title=Analyst Presentation March '25 |url=https://www.pnbindia.in/downloadprocess.aspx?fid=3A2WZXJNUHj6ZT8IuSaAbw== |publisher=Punjab National Bank |access-date=27 June 2025}}</ref> | ||
PNB has a banking subsidiary in the [[United Kingdom|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]], which has 122 branches. PNB also owns 41.64% of JSC (SB) PNB Bank in Kazakhstan, which has four branches. | PNB has a banking subsidiary in the [[United Kingdom|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]], which has 122 branches. PNB also owns 41.64% of JSC (SB) PNB Bank in Kazakhstan, which has four branches. | ||
==History== | ==History== | ||
Punjab National Bank is a [[Public | Punjab National Bank is a [[Public Sector Undertakings in India]] (PSU) working under the [[Government of India]] regulated by the [[Reserve Bank of India]] Act, 1934 and the Banking Regulation Act, 1949. It was registered on 19 May 1894 under the Indian Companies Act, with its office in [[Anarkali Bazaar]], in pre-independent India (present-day [[Pakistan]]). The founding board was drawn from different parts of India professing different faiths and of varying backgrounds, with the common objective of creating a truly national bank that would further the economic interest of the country.<ref name=Origin>{{cite web |url=https://www.pnbindia.in/En/ui/OriginofPNB.aspx |archive-url=https://web.archive.org/web/20110213033022/http://www.pnbindia.in/En/ui/OriginofPNB.aspx |url-status=dead |archive-date=13 February 2011 |title=Origin of PNB |publisher=Punjab National Bank |access-date=18 February 2014}}</ref> PNB's founders included several leaders of the [[Swadeshi]] movement such as, [[Dyal Singh Majithia]] and [[Lala Harkishen Lal]], Lala Lalchand, Kali Prosanna Roy, E. C. Jessawala, Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass.<ref>Singh Majithia (1994).</ref><ref>Tandon (1989).</ref> [[Lala Lajpat Rai]] was actively associated with the management of the Bank in its early years. The board first met on 23 May 1894.<ref name=Origin/> The bank opened for business on 12 April 1895 in Lahore.{{Citation needed|date=October 2021}} | ||
PNB is the first Indian bank to have been started solely with Indian capital that survives to the present earlier [[Oudh Commercial Bank]] was established in 1881, | PNB is the first Indian bank to have been started solely with Indian capital that survives to the present, as the earlier [[Oudh Commercial Bank]], which was established in 1881, failed in 1958.{{Citation needed|date=October 2021}} | ||
[[Mahatma Gandhi]], [[Jawaharlal Nehru]], [[Lal Bahadur Shastri]], [[Indira Gandhi]] and the [[Jalianwala Bagh]] Committee have held PNB accounts.<ref name=Origin/>{{Primary source inline|date=October 2021}} | [[Mahatma Gandhi]], [[Jawaharlal Nehru]], [[Lal Bahadur Shastri]], [[Indira Gandhi]] and the [[Jalianwala Bagh]] Committee have held PNB accounts.<ref name=Origin/>{{Primary source inline|date=October 2021}} | ||
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===Timeline=== | ===Timeline=== | ||
[[File:PNB ATM at Moolchand Metro Station.jpg|right|thumb|PNB ATM at [[Moolchand metro station]] of Delhi Metro, Delhi]] | [[File:PNB ATM at Moolchand Metro Station.jpg|right|thumb|PNB ATM at [[Moolchand metro station]] of Delhi Metro, Delhi]] | ||
In 1900 PNB established its first branch outside Lahore in India. Branches in [[Karachi]] and [[Peshawar]] followed. The next major event occurred in 1940 when PNB absorbed Bhagwan (or Bhugwan) Dass Bank, which had its head office in [[Dehradun|Dehra]].{{Citation needed|date=October 2021}} | |||
In 1900, PNB established its first branch outside Lahore in India. Branches in [[Karachi]] and [[Peshawar]] followed. The next major event occurred in 1940 when PNB absorbed Bhagwan (or Bhugwan) Dass Bank, which had its head office in [[Dehradun|Dehra]].{{Citation needed|date=October 2021}} | |||
At the [[Partition of India]] and the creation of Pakistan, PNB lost its premises in Lahore, but continued to operate in Pakistan. Partition forced PNB to close 92 offices in [[West Pakistan]], one-third of its total number of branches, and which held 40% of the total deposits. PNB still maintained a few caretaker branches. On 31 March 1947, even before Partition, PNB had decided to leave Lahore and transfer its registered office to India; it received permission from the Lahore High Court on 20 June 1947, at which time it established a new head office at Under Hill Road, Civil Lines in New Delhi. Lala Yodh Raj was the Chairman of the Bank.{{Citation needed|date=October 2021}} | At the [[Partition of India]] and the creation of Pakistan, PNB lost its premises in Lahore, but continued to operate in Pakistan. Partition forced PNB to close 92 offices in [[West Pakistan]], one-third of its total number of branches, and which held 40% of the total deposits. PNB still maintained a few caretaker branches. On 31 March 1947, even before Partition, PNB had decided to leave Lahore and transfer its registered office to India; it received permission from the Lahore High Court on 20 June 1947, at which time it established a new head office at Under Hill Road, Civil Lines in New Delhi. Lala Yodh Raj was the Chairman of the Bank.{{Citation needed|date=October 2021}} | ||
In 1951, PNB acquired the 39 branches of Bharat Bank (est. 1942). Bharat Bank became Bharat Nidhi Ltd. In 1960, PNB again shifted its head office, this time from Calcutta to Delhi. In 1961, PNB acquired Universal Bank of India, which | In 1951, PNB acquired the 39 branches of Bharat Bank (est. 1942). Bharat Bank became Bharat Nidhi Ltd. In 1960, PNB again shifted its head office, this time from Calcutta {{citation needed|reason=In timeline head it had been told that PNB had transferred it's head office from Lahore to New Delhi before partition that is in 1947, then how in 1960 PNB can transfer it's head office from Calcutta to Delhi ? Do PNB had two Head Offices before partition ?|date=February 2026}} to Delhi. In 1961, PNB acquired Universal Bank of India, which Ramkrishna Dalmia had established in 1938 in [[Dalmianagar]], [[Bihar]]. PNB also amalgamated Indo Commercial Bank (est. 1932 by [[S. N. N. Sankaralinga Iyer]]) in a rescue. In 1963, The [[Politics of Burma#Military socialist era|Burmese revolutionary government]] nationalised PNB's branch in Rangoon (now [[Yangon]]). This became People's Bank No. 7.<ref>Turnell (2009), p.226.</ref> After the [[Indo-Pak war of 1965]], the government of Pakistan seized all the offices in Pakistan of Indian banks in September 1965. PNB also had one or more branches in [[East Pakistan]] (now [[Bangladesh]]).{{Citation needed|date=October 2021}} | ||
The government of India (GOI) nationalised PNB and 13 other major commercial banks, on 19 July 1969. In 1976 or 1978, PNB opened a branch in London. some ten years later, in 1986, the [[Reserve Bank of India]] required PNB to transfer its London branch to [[State Bank of India]] after the branch was involved in a fraud scandal. That same year, 1986, PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The acquisition added Hindustan's 142 branches to PNB's network. In 1993, PNB acquired [[New Bank of India]], which the GOI had nationalised in 1980. In 1998 PNB set up a representative office in [[Almaty]], Kazakhstan.{{Citation needed|date=October 2021}} | The government of India (GOI) nationalised PNB and 13 other major commercial banks, on 19 July 1969. In 1976 or 1978, PNB opened a branch in [[London]]. some ten years later, in 1986, the [[Reserve Bank of India]] required PNB to transfer its London branch to [[State Bank of India]] after the branch was involved in a fraud scandal. That same year, 1986, PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The acquisition added Hindustan's 142 branches to PNB's network. In 1993, PNB acquired [[New Bank of India]], which the GOI had nationalised in 1980. In 1998 PNB set up a representative office in [[Almaty]], Kazakhstan.{{Citation needed|date=October 2021}} | ||
In 2003 PNB took over [[Nedungadi Bank]], the oldest private sector bank in [[Kerala]]. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares. PNB also opened a representative office in London. In 2004, PNB established a branch in [[Kabul]], Afghanistan, a representative office in Shanghai, and another in [[Dubai]]. PNB also established an alliance with [[Everest Bank]] in Nepal that permits migrants to transfer funds easily between India and Everest Bank's 12 branches in Nepal. Currently, PNB owns 20% of Everest Bank. Two years later, PNB established PNBIL – Punjab National Bank (International) – in the UK, with two offices, one in London, and one in Southall. Since then it has opened more branches, this time in Leicester, Birmingham, Ilford, Wembley, and Wolverhampton. PNB also opened a branch in Hong Kong. In January 2009, PNB established a representative office in Oslo, Norway. PNB hopes to upgrade this to a branch in due course. In January 2010, PNB established a subsidiary in [[Bhutan]]. PNB owns 51% of Druk PNB Bank, which has branches in [[Thimphu]], [[Phuntsholing]], and [[Wangdue]]. Local investors own the remaining shares. Then on 1 May, PNB opened its branch in Dubai's financial center. PNB purchased a small minority stake in Kazakhstan-based JSC Danabank established on 20 October 1992 in Pavlodar. Within the year PNB increased its ownership till 84% of what has become JSC (SB) PNB, with its share currently decreased to 49%. The associate in Kazakhstan now called JSC Tengri Bank has branches in [[Almaty]], [[Nur-Sultan]], [[Karaganda]], [[Pavlodar]] and Shymkent. September 2011: PNB opened a representative office in [[Sydney]], Australia. December 2012: PNB signed an agreement with US based life Insurance company [[MetLife]] to acquire a 30% stake in MetLife's Indian affiliate MetLife India Limited. The company would be renamed PNB MetLife India Limited and PNB would sell MetLife's products in its branches.<ref>{{cite news |url=http://www.indianexpress.com/news/punjab-national-bank-acquires-30--stake-in-metlife-company-to-be-rebranded/1054584 |title=Punjab National Bank acquires 30% stake in Metlife, company to be re-branded |work=The Indian Express|date=4 January 2013 |access-date=18 February 2014}}</ref><ref name=PNBAR2012-13>{{cite web |url=http://www.bseindia.com/bseplus/AnnualReport/532461/5324610313.pdf |title=Annual Report 2012-13 |publisher=PNB |access-date=18 February 2014}}</ref><ref name=10K>{{cite web|url=http://www.hoovers.com/company/Punjab_National_Bank/ryxysxi-1-1njea5.html|title=Financials Information for Punjab National Bank |publisher=[[Hoover's]]|access-date=18 February 2014}}</ref><ref>{{cite web|url=https://www.forbes.com/global2000/list/7/#header:assets_sortreverse:true|archive-url=https://web.archive.org/web/20150511022006/http://www.forbes.com/global2000/list/7#header:assets_sortreverse:true|url-status=dead|archive-date=11 May 2015|title=The World's Biggest Public Companies|work=Forbes}}</ref> | In 2003, PNB took over [[Nedungadi Bank]], the oldest private sector bank in [[Kerala]]. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares. PNB also opened a representative office in London. In 2004, PNB established a branch in [[Kabul]], Afghanistan, a representative office in Shanghai, and another in [[Dubai]]. PNB also established an alliance with [[Everest Bank]] in Nepal that permits migrants to transfer funds easily between India and Everest Bank's 12 branches in Nepal. Currently, PNB owns 20% of Everest Bank. Two years later, PNB established PNBIL – Punjab National Bank (International) – in the UK, with two offices, one in London, and one in Southall. Since then it has opened more branches, this time in Leicester, Birmingham, Ilford, Wembley, and Wolverhampton. PNB also opened a branch in Hong Kong. In January 2009, PNB established a representative office in Oslo, Norway. PNB hopes to upgrade this to a branch in due course. In January 2010, PNB established a subsidiary in [[Bhutan]]. PNB owns 51% of Druk PNB Bank, which has branches in [[Thimphu]], [[Phuntsholing]], and [[Wangdue]]. Local investors own the remaining shares. Then on 1 May, PNB opened its branch in Dubai's financial center. PNB purchased a small minority stake in Kazakhstan-based JSC Danabank established on 20 October 1992 in Pavlodar. Within the year PNB increased its ownership till 84% of what has become JSC (SB) PNB, with its share currently decreased to 49%. The associate in Kazakhstan now called JSC Tengri Bank has branches in [[Almaty]], [[Nur-Sultan]], [[Karaganda]], [[Pavlodar]] and Shymkent. September 2011: PNB opened a representative office in [[Sydney]], Australia. December 2012: PNB signed an agreement with US based life Insurance company [[MetLife]] to acquire a 30% stake in MetLife's Indian affiliate MetLife India Limited. The company would be renamed PNB MetLife India Limited and PNB would sell MetLife's products in its branches.<ref>{{cite news |url=http://www.indianexpress.com/news/punjab-national-bank-acquires-30--stake-in-metlife-company-to-be-rebranded/1054584 |title=Punjab National Bank acquires 30% stake in Metlife, company to be re-branded |work=The Indian Express|date=4 January 2013 |access-date=18 February 2014}}</ref><ref name=PNBAR2012-13>{{cite web |url=http://www.bseindia.com/bseplus/AnnualReport/532461/5324610313.pdf |title=Annual Report 2012-13 |publisher=PNB |access-date=18 February 2014 |archive-date=23 September 2015 |archive-url=https://web.archive.org/web/20150923195101/http://www.bseindia.com/bseplus/AnnualReport/532461/5324610313.pdf |url-status=live }}</ref><ref name=10K>{{cite web|url=http://www.hoovers.com/company/Punjab_National_Bank/ryxysxi-1-1njea5.html|title=Financials Information for Punjab National Bank|publisher=[[Hoover's]]|access-date=18 February 2014|archive-date=5 April 2012|archive-url=https://web.archive.org/web/20120405062748/http://www.hoovers.com/company/Punjab_National_Bank/ryxysxi-1-1njea5.html|url-status=live}}</ref><ref>{{cite web|url=https://www.forbes.com/global2000/list/7/#header:assets_sortreverse:true|archive-url=https://web.archive.org/web/20150511022006/http://www.forbes.com/global2000/list/7#header:assets_sortreverse:true|url-status=dead|archive-date=11 May 2015|title=The World's Biggest Public Companies|work=Forbes}}</ref> | ||
===Punjab National Bank Fraud Case, 2018=== | ===Punjab National Bank Fraud Case, 2018=== | ||
{{Main|Punjab National Bank Scam}} | {{Main|Punjab National Bank Scam}} | ||
PNB disclosed in February 2018 that it detected fraudulent transactions of up to $1.77 billion | PNB disclosed in February 2018 that it detected fraudulent transactions of up to $1.77 billion.<ref name="punjab2018">{{cite news |title=$1.8 Billion in India Bank Fraud Raises Fears of Ripple Effects |url=https://www.nytimes.com/2018/02/14/business/india-bank-fraud.html |work=The New York Times |date=14 February 2018 |last1=Abi-Habib |first1=Maria |archive-date=2 May 2018 |access-date=30 May 2018 |archive-url=https://web.archive.org/web/20180502035756/https://www.nytimes.com/2018/02/14/business/india-bank-fraud.html |url-status=live }}</ref><ref>{{cite news |title=PNB bank fraud: CBI registers three cases involving over ₹120 cr. |url=https://www.thehindu.com/news/national/cbi-registers-three-bank-fraud-cases-involving-over-120-cr/article31810754.ece |work=The Hindu |date=12 June 2020 |language=en-IN}}</ref> | ||
==Mergers and acquisitions== | ==Mergers and acquisitions== | ||
| Line 101: | Line 97: | ||
| [[New Bank of India]] | | [[New Bank of India]] | ||
| New Delhi, India | | New Delhi, India | ||
| | |<ref>{{cite web | title = Heritage | url = https://beta.pnbindia.in/heritage.html | work = Punjab National Bank | access-date = 2024-05-27 | archive-date = 27 May 2024 | archive-url = https://web.archive.org/web/20240527184015/https://beta.pnbindia.in/heritage.html | url-status = live }}</ref> | ||
|- | |- | ||
| 2003 | | 2003 | ||
| [[Nedungadi Bank]] | | [[Nedungadi Bank]] | ||
| [[Kozhikode]], [[Kerala]], India | | [[Kozhikode]], [[Kerala]], India | ||
| | | <ref>{{cite news |title=PNB takes over Nedungadi Bank|url=https://timesofindia.indiatimes.com/business/india-business/pnb-takes-over-nedungadi-bank/articleshow/36157574.cms |access-date=27 May 2024 |work=Times of India |date=1 February 2003 |language=en}}</ref> | ||
|- | |- | ||
| 2020 | | rowspan="2" | 2020 | ||
| [[Oriental Bank of Commerce]] | |||
| [[Gurgaon]] (Head Office) | |||
| <ref>{{cite news |title=As amalgamation with United Bank, OBC takes effect, PNB becomes India's second largest PSB after SBI |url=https://www.dnaindia.com/business/report-as-amalgamation-with-united-bank-obc-takes-effect-pnb-becomes-india-s-second-largest-psb-after-sbi-2819256 |access-date=2 April 2020 |work=DNA India |date=1 April 2020 |language=en}}</ref> | | rowspan="2" | <ref>{{cite news |title=As amalgamation with United Bank, OBC takes effect, PNB becomes India's second largest PSB after SBI |url=https://www.dnaindia.com/business/report-as-amalgamation-with-united-bank-obc-takes-effect-pnb-becomes-india-s-second-largest-psb-after-sbi-2819256 |access-date=2 April 2020 |work=DNA India |date=1 April 2020 |language=en}}</ref> | ||
|- | |- | ||
| [[United Bank of India]] | |||
| [[Kolkata]] (Head Office) | |||
|} | |} | ||
===Amalgamation=== | ===Amalgamation=== | ||
On 30 August 2019, [[Minister of Finance (India)|Finance Minister]] [[Nirmala Sitharaman]] announced that the [[Oriental Bank of Commerce]] and [[United Bank of India]] would be merged with Punjab National Bank. The proposed merger would make Punjab National Bank<ref>{{cite news |title=Punjab National Bank completes one year of integration |url=https://www.timesnownews.com/videos/mirror-now/society/punjab-national-bank-completes-one-year-of-integration/93757 |work=www.timesnownews.com |language=en}}</ref> the second largest public sector bank in the country with assets of {{INRConvert|17.95|lc}} and 11,437 branches.<ref name="Branches">{{cite news |title=Bank Merger News: Government unveils mega bank mergers to revive growth from 5-year low |url=https://timesofindia.indiatimes.com/business/india-business/government-unveils-mega-bank-mergers-to-revive-growth-from-5-year-low/articleshow/70911359.cms |access-date=2 April 2020 |work=The Times of India |date=30 August 2019 |language=en}}</ref><ref>{{cite web |author=Staff Writer|title=10 public sector banks to be merged into four |url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html |website=Mint |access-date=30 August 2019 |language=en |date=30 August 2019}}</ref> The Union Cabinet approved the merger on 4 March 2020. PNB announced that its board had approved the merger ratios the next day. Shareholders of Oriental Bank of Commerce and United Bank will receive 1,150 shares and 121 shares of PNB, respectively, for every 1,000 shares of they hold.<ref>{{cite web |last1=Ghosh |first1=Shayan |title=Three banks announce merger ratios |url=https://www.livemint.com/market/stock-market-news/two-anchor-banks-pnb-union-bank-of-india-disclose-merger-ratios-11583413469591.html |website=Livemint |access-date=6 March 2020 |language=en |date=5 March 2020}}</ref> On 1 April 2020, the merger came into effect.<ref>{{cite web |title=Merged entity of UBI, PNB, OBC to become operational from April 1, 2020 |url=https://www.businesstoday.in/sectors/banks/merged-entity-of-ubi-pnb-obc-to-become-operational-from-april-1-2020/story/379073.html |website=Business Today |date=14 September 2019 |access-date=14 September 2019}}</ref><ref>{{cite web |title=Merged entity of UBI, PNB, OBC to become operational from 1 April next year |url=https://www.livemint.com/industry/banking/merged-entity-of-ubi-pnb-obc-to-become-operational-from-1-april-next-year-1568481571774.html |website=Mint |access-date=14 September 2019 |language=en |date=14 September 2019}}</ref> Post-merger, all customers of other two merging banks are now treated as the customers of PNB.<ref name="Merger">{{cite news |title=Merger of 10 public sector banks to come into effect from today: 10 points |url=https://www.livemint.com/industry/banking/merger-of-10-public-sector-banks-to-come-into-effect-from-today-10-points-11585632469446.html |access-date=2 April 2020 |work=Livemint |date=31 March 2020 |language=en | On 30 August 2019, [[Minister of Finance (India)|Finance Minister]] [[Nirmala Sitharaman]] announced that the [[Oriental Bank of Commerce]] and [[United Bank of India]] would be merged with Punjab National Bank. The proposed merger would make Punjab National Bank<ref>{{cite news |title=Punjab National Bank completes one year of integration |url=https://www.timesnownews.com/videos/mirror-now/society/punjab-national-bank-completes-one-year-of-integration/93757 |work=www.timesnownews.com |language=en |archive-date=9 April 2021 |access-date=1 April 2021 |archive-url=https://web.archive.org/web/20210409060754/https://www.timesnownews.com/videos/mirror-now/society/punjab-national-bank-completes-one-year-of-integration/93757 |url-status=live }}</ref> the second largest public sector bank in the country with assets of {{INRConvert|17.95|lc}} and 11,437 branches.<ref name="Branches">{{cite news |title=Bank Merger News: Government unveils mega bank mergers to revive growth from 5-year low |url=https://timesofindia.indiatimes.com/business/india-business/government-unveils-mega-bank-mergers-to-revive-growth-from-5-year-low/articleshow/70911359.cms |access-date=2 April 2020 |work=The Times of India |date=30 August 2019 |language=en |archive-date=30 August 2019 |archive-url=https://web.archive.org/web/20190830131147/https://timesofindia.indiatimes.com/business/india-business/government-unveils-mega-bank-mergers-to-revive-growth-from-5-year-low/articleshow/70911359.cms |url-status=live }}</ref><ref>{{cite web |author=Staff Writer |title=10 public sector banks to be merged into four |url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html |website=Mint |access-date=30 August 2019 |language=en |date=30 August 2019 |archive-date=30 August 2019 |archive-url=https://web.archive.org/web/20190830122322/https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html |url-status=live }}</ref> The Union Cabinet approved the merger on 4 March 2020. PNB announced that its board had approved the merger ratios the next day. Shareholders of Oriental Bank of Commerce and United Bank will receive 1,150 shares and 121 shares of PNB, respectively, for every 1,000 shares of they hold.<ref>{{cite web |last1=Ghosh |first1=Shayan |title=Three banks announce merger ratios |url=https://www.livemint.com/market/stock-market-news/two-anchor-banks-pnb-union-bank-of-india-disclose-merger-ratios-11583413469591.html |website=Livemint |access-date=6 March 2020 |language=en |date=5 March 2020 |archive-date=7 March 2020 |archive-url=https://web.archive.org/web/20200307140419/https://www.livemint.com/market/stock-market-news/two-anchor-banks-pnb-union-bank-of-india-disclose-merger-ratios-11583413469591.html |url-status=live }}</ref> On 1 April 2020, the merger came into effect.<ref>{{cite web |title=Merged entity of UBI, PNB, OBC to become operational from April 1, 2020 |url=https://www.businesstoday.in/sectors/banks/merged-entity-of-ubi-pnb-obc-to-become-operational-from-april-1-2020/story/379073.html |website=Business Today |date=14 September 2019 |access-date=14 September 2019 |archive-date=18 September 2019 |archive-url=https://web.archive.org/web/20190918000624/https://www.businesstoday.in/sectors/banks/merged-entity-of-ubi-pnb-obc-to-become-operational-from-april-1-2020/story/379073.html |url-status=live }}</ref><ref>{{cite web |title=Merged entity of UBI, PNB, OBC to become operational from 1 April next year |url=https://www.livemint.com/industry/banking/merged-entity-of-ubi-pnb-obc-to-become-operational-from-1-april-next-year-1568481571774.html |website=Mint |access-date=14 September 2019 |language=en |date=14 September 2019 |archive-date=21 September 2019 |archive-url=https://web.archive.org/web/20190921094911/https://www.livemint.com/industry/banking/merged-entity-of-ubi-pnb-obc-to-become-operational-from-1-april-next-year-1568481571774.html |url-status=live }}</ref> Post-merger, all customers of other two merging banks are now treated as the customers of PNB.<ref name="Merger">{{cite news |title=Merger of 10 public sector banks to come into effect from today: 10 points |url=https://www.livemint.com/industry/banking/merger-of-10-public-sector-banks-to-come-into-effect-from-today-10-points-11585632469446.html |access-date=2 April 2020 |work=Livemint |date=31 March 2020 |language=en |archive-date=4 April 2020 |archive-url=https://web.archive.org/web/20200404064519/https://www.livemint.com/industry/banking/merger-of-10-public-sector-banks-to-come-into-effect-from-today-10-points-11585632469446.html |url-status=live }}</ref> | ||
==Listings and shareholding== | ==Listings and shareholding== | ||
PNB's equity shares are listed on [[Bombay Stock Exchange]] and the [[National Stock Exchange of India]].<ref>{{cite web |url=http://www.bseindia.com/stock-share-price/punjab-national-bank/pnb/532461/ |title=Punjab National Bank|publisher=BSEindia.com |access-date=18 February 2014}}</ref><ref>{{cite web |url=https://www.nseindia.com/get-quotes/equity?symbol=PNB |title=Punjab National Bank |publisher=NSE India |access-date=18 February 2014}}</ref> It is a constituent of the [[ | PNB's equity shares are listed on [[Bombay Stock Exchange]] and the [[National Stock Exchange of India]].<ref>{{cite web |url=http://www.bseindia.com/stock-share-price/punjab-national-bank/pnb/532461/ |title=Punjab National Bank|publisher=BSEindia.com |access-date=18 February 2014}}</ref><ref>{{cite web |url=https://www.nseindia.com/get-quotes/equity?symbol=PNB |title=Punjab National Bank |publisher=NSE India |access-date=18 February 2014}}</ref> It is a constituent of the [[NIFTY 50|Nifty 50]] index at the [[National Stock Exchange of India|NSE]].<ref>{{cite web |url=https://www.nseindia.com/products-services/indices-nifty50-index |title=Download List of CNX Nifty stocks (.csv) |publisher=NSE India |access-date=18 February 2014 |archive-date=13 October 2013 |archive-url=https://web.archive.org/web/20131013143407/http://www.nseindia.com/content/indices/ind_niftylist.csv |url-status=live }}</ref> {{As of|2024|06|30}}, the shareholding structure of the bank is as follows. | ||
{| class="wikitable" | {| class="wikitable" | ||
!Shareholder | |||
!Percentage<ref>{{Cite web |date=2024-06-30 |title=Punjab National Bank Share Price Today, Stock Price, Live NSE News, Quotes, Tips – NSE India |url=https://www.nseindia.com/get-quotes/equity?symbol=PNB |access-date=2024-08-12 |website=[[National Stock Exchange of India]] |archive-date=24 May 2022 |archive-url=https://web.archive.org/web/20220524114022/https://www.nseindia.com/get-quotes/equity?symbol=PNB |url-status=live }}</ref><ref>{{Cite web |title=Punjab National Bank share price {{!}} About Punjab Natl.Bank {{!}} Key Insights - Screener |url=https://www.screener.in/company/PNB/ |access-date=2024-08-12 |website=Screener}}</ref> | |||
|- | |- | ||
|Promoters & Promoter Group | |||
|73.15 | |||
|- | |- | ||
| | |Domestic institutional investors | ||
|10.76 | |||
|- | |- | ||
| | |Foreign Institutional Investors | ||
|5.51 | |||
|- | |- | ||
| | |Public & Other | ||
|10.57 | |||
| | |||
|} | |} | ||
== Subsidiaries == | == Subsidiaries == | ||
[[File:Punjab national bank in South Road - geograph.org.uk - 1519911.jpg|thumb|A Punjab National Bank branch in the United Kingdom.]] | [[File:Punjab national bank in South Road - geograph.org.uk - 1519911.jpg|thumb|A Punjab National Bank branch in the United Kingdom.]] | ||
=== Domestic subsidiaries === | |||
Source:<ref name=":1">{{Cite web|title=Joint Ventures|url=https://pnb.bank.in/subsidiaries-and-JVs.html|access-date=7 October 2025|website=pnb.bank.in}}</ref> | |||
* PNB Gilts Ltd (74.07%) | |||
* PNB Investment Services Ltd (100%) | |||
* PNB Insurance Broking Services Ltd (non functional under winding up) | |||
* PNB Cards and Services Ltd (100%) | |||
=== International subsidiaries === | |||
* PNB International Ltd UK (100%) | |||
* Druk PNB Bank Ltd Bhutan (51%) | |||
=== Domestic associates === | |||
* [[Assam Gramin Bank]] (35%) | |||
* [[Bihar Gramin Bank]] (35%) | |||
* [[Haryana Gramin Bank]] (35%) | |||
* Himachal Pradesh Gramin Bank (35%) | |||
* Manipur Rural Bank (35%) | |||
* Punjab Gramin Bank (35%) | |||
* [[Tripura Gramin Bank]] (35%) | |||
* [[West Bengal Gramin Bank]] (35%) | |||
* [[PNB Housing Finance Limited]] (28.10%) | |||
* PNB MetLife India Insurance Company<ref name=":1" /> (30%) | |||
* [[Canara HSBC Life Insurance]]<ref>{{cite web|title=About Us|url=https://www.canarahsbclife.com/about-us|website=canarahsbclife.com}}</ref> (23%) | |||
=== International associates === | |||
* JSC Tengri Bank Kazakhstan (41.64%) | |||
=== International joint venture === | |||
* Everest Bank Ltd Nepal (20.0249%) | |||
==Employees== | ==Employees== | ||
As | As of 31 March 2025, the bank had 102,746 employees. As of 31 March 2019, it also had 1,722 employees with [[disability|disabilities]] on the same date (2.43%).<ref>{{Cite web|title=Business Responsibility Report|url=https://www.pnbindia.in/downloadprocess.aspx?fid=l5Z/IbcQfNdfIM8pGRDzQw==|website=Punjab National Bank|access-date=18 June 2020|archive-date=19 April 2021|archive-url=https://web.archive.org/web/20210419133901/https://www.pnbindia.in/downloadprocess.aspx?fid=l5Z/IbcQfNdfIM8pGRDzQw==|url-status=live}}</ref> The average age of bank employees on the same date was 39 years.<ref>{{Cite web|title=Annual Report 2018-19|url=https://www.pnbindia.in/downloadprocess.aspx?fid=s1d6Z2gyk/XHdtU0omsGsA==|website=Punjab National Bank|access-date=25 July 2019|archive-date=13 May 2021|archive-url=https://web.archive.org/web/20210513091017/https://www.pnbindia.in/downloadprocess.aspx?fid=s1d6Z2gyk/XHdtU0omsGsA==|url-status=live}}</ref> The bank reported the business of {{INRconvert|11.65|c}} per employee and net profit of {{INRconvert|8.06|l}} per employee during the FY 2012–13.<ref name=PNBAR2012-13/> The company incurred {{INRconvert|5751|c}} towards [[employee benefit]] expenses during the same financial year.<ref name=PNBAR2012-13/> | ||
==Corporate social responsibility== | ==Corporate social responsibility== | ||
The bank incurred {{INRconvert|3.24|c}} on [[corporate social responsibility]] activities like medical camps, farmer training, tree plantations, [[blood donation]] camps etc. during the FY 2012–13.<ref name=PNBAR2012-13/> | The bank incurred {{INRconvert|3.24|c}} on [[corporate social responsibility]] activities like medical camps, farmer training, tree plantations, [[blood donation]] camps etc. during the FY 2012–13.<ref name=PNBAR2012-13/> | ||
For the financial year 2018–2019, PNB incurred a sum of {{INRconvert|2954.15|l}} on CSR initiatives. Among many initiatives, one such effort is PNB Ladli, which started in 2014. The scheme initiated to promote education among girls of Rural / Semi-urban areas.<ref name="pnbindia.in">https://www.pnbindia.in/downloadprocess.aspx?fid=l5Z/IbcQfNdfIM8pGRDzQw== | For the financial year 2018–2019, PNB incurred a sum of {{INRconvert|2954.15|l}} on CSR initiatives. Among many initiatives, one such effort is PNB Ladli, which started in 2014. The scheme initiated to promote education among girls of Rural / Semi-urban areas.<ref name="pnbindia.in">{{Cite web| title=Business Responsibility Report - General Information about the Company | url=https://www.pnbindia.in/downloadprocess.aspx?fid=l5Z/IbcQfNdfIM8pGRDzQw== | archive-url=https://web.archive.org/web/20180521101626/http://www.pnbindia.in:80/downloadprocess.aspx?fid=l5Z/IbcQfNdfIM8pGRDzQw== | archive-date=2018-05-21}}</ref> | ||
During the year 2018–19, PNB has also taken the initiative for donations to CM relief fund for Kerala and Kumbh Mela.<ref name="pnbindia.in"/> | During the year 2018–19, PNB has also taken the initiative for donations to CM relief fund for Kerala and Kumbh Mela.<ref name="pnbindia.in"/> | ||
| Line 185: | Line 180: | ||
For the year FY18-19, PNB has initiated {{INR|1851.41}} for RSETIs.<ref name="pnbindia.in"/> | For the year FY18-19, PNB has initiated {{INR|1851.41}} for RSETIs.<ref name="pnbindia.in"/> | ||
To | To help young talents in India, the bank also initiated PNB Hockey Academy, one of the major efforts towards supporting the national games.<ref name="pnbindia.in"/> | ||
==See also== | ==See also== | ||
* [[List of bank robbers and robberies#India]] | * [[List of bank robbers and robberies#India]] | ||
* [[Banking in India]] | * [[Banking in India]] | ||
| Line 203: | Line 197: | ||
* {{cite book|last=Gopal|first=Madan|title=Dyal Singh Majithia|year=1994|publisher=Publ. Div., Ministry of Information and Broadcasting, Gov. of India|location=New Delhi|isbn=81-230-0119-3|chapter=The Nation's Bankers|url-access=registration|url=https://archive.org/details/dyalsinghmajithi00mada}} | * {{cite book|last=Gopal|first=Madan|title=Dyal Singh Majithia|year=1994|publisher=Publ. Div., Ministry of Information and Broadcasting, Gov. of India|location=New Delhi|isbn=81-230-0119-3|chapter=The Nation's Bankers|url-access=registration|url=https://archive.org/details/dyalsinghmajithi00mada}} | ||
* {{cite book|last=Tandon|first=Prakash|title=Banking century: a short history of banking in India & the pioneer, Punjab National Bank|year=1989|publisher=Viking|location=New Delhi, India|isbn=978-0-670-82853-1}} | * {{cite book|last=Tandon|first=Prakash|title=Banking century: a short history of banking in India & the pioneer, Punjab National Bank|year=1989|publisher=Viking|location=New Delhi, India|isbn=978-0-670-82853-1}} | ||
* {{Cite book|last=Turnell|first=Sean | * {{Cite book|last=Turnell|first=Sean|title=Fiery dragons : banks, moneylenders and microfinance in Burma|date=2008|publisher=NIAS Press|others=Nordic Institute of Asian Studies|isbn=978-87-7694-602-9|location=Copenhagen|oclc=753966248}} | ||
==External links== | ==External links== | ||
{{Commons category}} | |||
* {{Official website|https://www.pnbindia.in/}} | * {{Official website|https://www.pnbindia.in/}} | ||
{{Banking in India}} | {{Banking in India}} | ||
{{Nifty 200 companies}} | {{Nifty 200 companies}} | ||
{{Portal bar|Banks|India}} | |||
[[Category: | {{Authority control}} | ||
[[Category:Punjab National Bank| ]] | |||
[[Category:Companies based in New Delhi]] | [[Category:Companies based in New Delhi]] | ||
[[Category:Banks established in 1894]] | [[Category:Banks established in 1894]] | ||
[[Category:Companies nationalised by the Government of India]] | [[Category:Companies nationalised by the Government of India]] | ||
[[Category:Indian companies established in 1894]] | [[Category:Indian companies established in 1894]] | ||
[[Category:Companies listed on the National Stock Exchange of India]] | [[Category:Companies listed on the National Stock Exchange of India]] | ||
[[Category:Companies listed on the Bombay Stock Exchange]] | [[Category:Companies listed on the Bombay Stock Exchange]] | ||
Latest revision as of 16:12, 24 February 2026
 | |
 Headquarters in Dwarka, Delhi | |
| Traded as | BSE: 532461 NSE: PNB |
|---|---|
| Industry | Banking, Financial services |
| Founded | 19 May 1894[1][2] |
| Founder(s) | |
| Headquarters | Dwarka, Delhi, India |
Number of locations | 10,189 branches and 11,822 ATMs (2025) |
Key people |
|
| Products | |
| Revenue |  ₹1.38 lakh crore (US$19 billion) (2025) |
| ₹26,831 crore (US$3.8 billion)[citation needed] (2025) | |
| ₹16,630 crore (US$2.3 billion)[citation needed] (2025) | |
| Total assets | ₹18.18 lakh crore (US$250 billion)[citation needed] (2025) |
| Total equity | ₹1.08 lakh crore (US$15 billion)[citation needed] (2024) |
| Owner | Government of India (70.08%) |
Number of employees | 1,02,746 (2025)[4] |
| Subsidiaries | PNB MetLife India Insurance Company PNB Housing Finance Limited PNB Cards and Services Limited |
| Capital ratio class39 = tel | 14.14% (2020) |
| Website | |
Punjab National Bank, also known as PNB, is an Indian public sector bank based in New Delhi.[5] Founded in May 1894, the bank has 10,189 branches and 11,822 ATMs as of March 2025.[6]
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, which has 122 branches. PNB also owns 41.64% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.
History[edit | edit source]
Punjab National Bank is a Public Sector Undertakings in India (PSU) working under the Government of India regulated by the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949. It was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, in pre-independent India (present-day Pakistan). The founding board was drawn from different parts of India professing different faiths and of varying backgrounds, with the common objective of creating a truly national bank that would further the economic interest of the country.[1] PNB's founders included several leaders of the Swadeshi movement such as, Dyal Singh Majithia and Lala Harkishen Lal, Lala Lalchand, Kali Prosanna Roy, E. C. Jessawala, Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass.[7][8] Lala Lajpat Rai was actively associated with the management of the Bank in its early years. The board first met on 23 May 1894.[1] The bank opened for business on 12 April 1895 in Lahore.[citation needed]
PNB is the first Indian bank to have been started solely with Indian capital that survives to the present, as the earlier Oudh Commercial Bank, which was established in 1881, failed in 1958.[citation needed]
Mahatma Gandhi, Jawaharlal Nehru, Lal Bahadur Shastri, Indira Gandhi and the Jalianwala Bagh Committee have held PNB accounts.[1][non-primary source needed]
Timeline[edit | edit source]
In 1900, PNB established its first branch outside Lahore in India. Branches in Karachi and Peshawar followed. The next major event occurred in 1940 when PNB absorbed Bhagwan (or Bhugwan) Dass Bank, which had its head office in Dehra.[citation needed]
At the Partition of India and the creation of Pakistan, PNB lost its premises in Lahore, but continued to operate in Pakistan. Partition forced PNB to close 92 offices in West Pakistan, one-third of its total number of branches, and which held 40% of the total deposits. PNB still maintained a few caretaker branches. On 31 March 1947, even before Partition, PNB had decided to leave Lahore and transfer its registered office to India; it received permission from the Lahore High Court on 20 June 1947, at which time it established a new head office at Under Hill Road, Civil Lines in New Delhi. Lala Yodh Raj was the Chairman of the Bank.[citation needed]
In 1951, PNB acquired the 39 branches of Bharat Bank (est. 1942). Bharat Bank became Bharat Nidhi Ltd. In 1960, PNB again shifted its head office, this time from Calcutta [citation needed] to Delhi. In 1961, PNB acquired Universal Bank of India, which Ramkrishna Dalmia had established in 1938 in Dalmianagar, Bihar. PNB also amalgamated Indo Commercial Bank (est. 1932 by S. N. N. Sankaralinga Iyer) in a rescue. In 1963, The Burmese revolutionary government nationalised PNB's branch in Rangoon (now Yangon). This became People's Bank No. 7.[9] After the Indo-Pak war of 1965, the government of Pakistan seized all the offices in Pakistan of Indian banks in September 1965. PNB also had one or more branches in East Pakistan (now Bangladesh).[citation needed]
The government of India (GOI) nationalised PNB and 13 other major commercial banks, on 19 July 1969. In 1976 or 1978, PNB opened a branch in London. some ten years later, in 1986, the Reserve Bank of India required PNB to transfer its London branch to State Bank of India after the branch was involved in a fraud scandal. That same year, 1986, PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The acquisition added Hindustan's 142 branches to PNB's network. In 1993, PNB acquired New Bank of India, which the GOI had nationalised in 1980. In 1998 PNB set up a representative office in Almaty, Kazakhstan.[citation needed]
In 2003, PNB took over Nedungadi Bank, the oldest private sector bank in Kerala. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares. PNB also opened a representative office in London. In 2004, PNB established a branch in Kabul, Afghanistan, a representative office in Shanghai, and another in Dubai. PNB also established an alliance with Everest Bank in Nepal that permits migrants to transfer funds easily between India and Everest Bank's 12 branches in Nepal. Currently, PNB owns 20% of Everest Bank. Two years later, PNB established PNBIL – Punjab National Bank (International) – in the UK, with two offices, one in London, and one in Southall. Since then it has opened more branches, this time in Leicester, Birmingham, Ilford, Wembley, and Wolverhampton. PNB also opened a branch in Hong Kong. In January 2009, PNB established a representative office in Oslo, Norway. PNB hopes to upgrade this to a branch in due course. In January 2010, PNB established a subsidiary in Bhutan. PNB owns 51% of Druk PNB Bank, which has branches in Thimphu, Phuntsholing, and Wangdue. Local investors own the remaining shares. Then on 1 May, PNB opened its branch in Dubai's financial center. PNB purchased a small minority stake in Kazakhstan-based JSC Danabank established on 20 October 1992 in Pavlodar. Within the year PNB increased its ownership till 84% of what has become JSC (SB) PNB, with its share currently decreased to 49%. The associate in Kazakhstan now called JSC Tengri Bank has branches in Almaty, Nur-Sultan, Karaganda, Pavlodar and Shymkent. September 2011: PNB opened a representative office in Sydney, Australia. December 2012: PNB signed an agreement with US based life Insurance company MetLife to acquire a 30% stake in MetLife's Indian affiliate MetLife India Limited. The company would be renamed PNB MetLife India Limited and PNB would sell MetLife's products in its branches.[10][11][12][13]
Punjab National Bank Fraud Case, 2018[edit | edit source]
PNB disclosed in February 2018 that it detected fraudulent transactions of up to $1.77 billion.[14][15]
Mergers and acquisitions[edit | edit source]
| Acquisition date | Company | Location | Ref. |
|---|---|---|---|
| 1951 | Bharat Bank Ltd. | New Delhi, India | [citation needed] |
| 1961 | Universal Bank of India | Dalmianagar, Bihar, India | [citation needed] |
| 1962 | Indo-Commercial Bank | India | [citation needed] |
| 1986 | Hindustan Commercial Bank | India | [citation needed] |
| 1993 | New Bank of India | New Delhi, India | [16] |
| 2003 | Nedungadi Bank | Kozhikode, Kerala, India | [17] |
| 2020 | Oriental Bank of Commerce | Gurgaon (Head Office) | [18] |
| United Bank of India | Kolkata (Head Office) |
Amalgamation[edit | edit source]
On 30 August 2019, Finance Minister Nirmala Sitharaman announced that the Oriental Bank of Commerce and United Bank of India would be merged with Punjab National Bank. The proposed merger would make Punjab National Bank[19] the second largest public sector bank in the country with assets of ₹17.95 lakh crore (US$250 billion) and 11,437 branches.[20][21] The Union Cabinet approved the merger on 4 March 2020. PNB announced that its board had approved the merger ratios the next day. Shareholders of Oriental Bank of Commerce and United Bank will receive 1,150 shares and 121 shares of PNB, respectively, for every 1,000 shares of they hold.[22] On 1 April 2020, the merger came into effect.[23][24] Post-merger, all customers of other two merging banks are now treated as the customers of PNB.[25]
[edit | edit source]
PNB's equity shares are listed on Bombay Stock Exchange and the National Stock Exchange of India.[26][27] It is a constituent of the Nifty 50 index at the NSE.[28] As of 30 June 2024[update], the shareholding structure of the bank is as follows.
| Shareholder | Percentage[29][30] |
|---|---|
| Promoters & Promoter Group | 73.15 |
| Domestic institutional investors | 10.76 |
| Foreign Institutional Investors | 5.51 |
| Public & Other | 10.57 |
Subsidiaries[edit | edit source]
Domestic subsidiaries[edit | edit source]
Source:[31]
- PNB Gilts Ltd (74.07%)
- PNB Investment Services Ltd (100%)
- PNB Insurance Broking Services Ltd (non functional under winding up)
- PNB Cards and Services Ltd (100%)
International subsidiaries[edit | edit source]
- PNB International Ltd UK (100%)
- Druk PNB Bank Ltd Bhutan (51%)
Domestic associates[edit | edit source]
- Assam Gramin Bank (35%)
- Bihar Gramin Bank (35%)
- Haryana Gramin Bank (35%)
- Himachal Pradesh Gramin Bank (35%)
- Manipur Rural Bank (35%)
- Punjab Gramin Bank (35%)
- Tripura Gramin Bank (35%)
- West Bengal Gramin Bank (35%)
- PNB Housing Finance Limited (28.10%)
- PNB MetLife India Insurance Company[31] (30%)
- Canara HSBC Life Insurance[32] (23%)
International associates[edit | edit source]
- JSC Tengri Bank Kazakhstan (41.64%)
International joint venture[edit | edit source]
- Everest Bank Ltd Nepal (20.0249%)
Employees[edit | edit source]
As of 31 March 2025, the bank had 102,746 employees. As of 31 March 2019, it also had 1,722 employees with disabilities on the same date (2.43%).[33] The average age of bank employees on the same date was 39 years.[34] The bank reported the business of ₹11.65 crore (US$1.6 million) per employee and net profit of ₹8.06 lakh (US$11,000) per employee during the FY 2012–13.[11] The company incurred ₹5,751 crore (US$810 million) towards employee benefit expenses during the same financial year.[11]
Corporate social responsibility[edit | edit source]
The bank incurred ₹3.24 crore (US$450,000) on corporate social responsibility activities like medical camps, farmer training, tree plantations, blood donation camps etc. during the FY 2012–13.[11]
For the financial year 2018–2019, PNB incurred a sum of ₹2,954.15 lakh (US$4.1 million) on CSR initiatives. Among many initiatives, one such effort is PNB Ladli, which started in 2014. The scheme initiated to promote education among girls of Rural / Semi-urban areas.[35]
During the year 2018–19, PNB has also taken the initiative for donations to CM relief fund for Kerala and Kumbh Mela.[35]
For the year FY18-19, PNB has initiated ₹1,851.41 for RSETIs.[35]
To help young talents in India, the bank also initiated PNB Hockey Academy, one of the major efforts towards supporting the national games.[35]
See also[edit | edit source]
- List of bank robbers and robberies#India
- Banking in India
- List of banks in India
- Indian Financial System Code
- List of largest banks
- List of companies of India
- Make in India
References[edit | edit source]
- ↑ 1.0 1.1 1.2 1.3 "Origin of PNB". Punjab National Bank. Archived from the original on 13 February 2011. Retrieved 18 February 2014.
- ↑ "History of PNB". NDTV.com. Archived from the original on 26 February 2014. Retrieved 18 February 2014.
- ↑ "board of directors". Archived from the original on 9 July 2019. Retrieved 21 January 2019.
- ↑ "Employee strength of Public Sector Banks" (PDF). Government of India, Ministry of Finance. Retrieved 24 July 2025.
- ↑ "Domestic Branches and ATMs". 25 January 2024. Archived from the original on 27 January 2024. Retrieved 27 January 2024.
- ↑ "Analyst Presentation March '25". Punjab National Bank. Retrieved 27 June 2025.
- ↑ Singh Majithia (1994).
- ↑ Tandon (1989).
- ↑ Turnell (2009), p.226.
- ↑ "Punjab National Bank acquires 30% stake in Metlife, company to be re-branded". The Indian Express. 4 January 2013. Retrieved 18 February 2014.
- ↑ 11.0 11.1 11.2 11.3 "Annual Report 2012-13" (PDF). PNB. Archived (PDF) from the original on 23 September 2015. Retrieved 18 February 2014.
- ↑ "Financials Information for Punjab National Bank". Hoover's. Archived from the original on 5 April 2012. Retrieved 18 February 2014.
- ↑ "The World's Biggest Public Companies". Forbes. Archived from the original on 11 May 2015.
- ↑ Abi-Habib, Maria (14 February 2018). "$1.8 Billion in India Bank Fraud Raises Fears of Ripple Effects". The New York Times. Archived from the original on 2 May 2018. Retrieved 30 May 2018.
- ↑ "PNB bank fraud: CBI registers three cases involving over ₹120 cr". The Hindu. 12 June 2020.
- ↑ "Heritage". Punjab National Bank. Archived from the original on 27 May 2024. Retrieved 27 May 2024.
- ↑ "PNB takes over Nedungadi Bank". Times of India. 1 February 2003. Retrieved 27 May 2024.
- ↑ "As amalgamation with United Bank, OBC takes effect, PNB becomes India's second largest PSB after SBI". DNA India. 1 April 2020. Retrieved 2 April 2020.
- ↑ "Punjab National Bank completes one year of integration". www.timesnownews.com. Archived from the original on 9 April 2021. Retrieved 1 April 2021.
- ↑ "Bank Merger News: Government unveils mega bank mergers to revive growth from 5-year low". The Times of India. 30 August 2019. Archived from the original on 30 August 2019. Retrieved 2 April 2020.
- ↑ Staff Writer (30 August 2019). "10 public sector banks to be merged into four". Mint. Archived from the original on 30 August 2019. Retrieved 30 August 2019.
- ↑ Ghosh, Shayan (5 March 2020). "Three banks announce merger ratios". Livemint. Archived from the original on 7 March 2020. Retrieved 6 March 2020.
- ↑ "Merged entity of UBI, PNB, OBC to become operational from April 1, 2020". Business Today. 14 September 2019. Archived from the original on 18 September 2019. Retrieved 14 September 2019.
- ↑ "Merged entity of UBI, PNB, OBC to become operational from 1 April next year". Mint. 14 September 2019. Archived from the original on 21 September 2019. Retrieved 14 September 2019.
- ↑ "Merger of 10 public sector banks to come into effect from today: 10 points". Livemint. 31 March 2020. Archived from the original on 4 April 2020. Retrieved 2 April 2020.
- ↑ "Punjab National Bank". BSEindia.com. Retrieved 18 February 2014.
- ↑ "Punjab National Bank". NSE India. Retrieved 18 February 2014.
- ↑ "Download List of CNX Nifty stocks (.csv)". NSE India. Archived from the original on 13 October 2013. Retrieved 18 February 2014.
- ↑ "Punjab National Bank Share Price Today, Stock Price, Live NSE News, Quotes, Tips – NSE India". National Stock Exchange of India. 30 June 2024. Archived from the original on 24 May 2022. Retrieved 12 August 2024.
- ↑ "Punjab National Bank share price | About Punjab Natl.Bank | Key Insights - Screener". Screener. Retrieved 12 August 2024.
- ↑ 31.0 31.1 "Joint Ventures". pnb.bank.in. Retrieved 7 October 2025.
- ↑ "About Us". canarahsbclife.com.
- ↑ "Business Responsibility Report". Punjab National Bank. Archived from the original on 19 April 2021. Retrieved 18 June 2020.
- ↑ "Annual Report 2018-19". Punjab National Bank. Archived from the original on 13 May 2021. Retrieved 25 July 2019.
- ↑ 35.0 35.1 35.2 35.3 "Business Responsibility Report - General Information about the Company". Archived from the original on 21 May 2018.
Further reading[edit | edit source]
- Gopal, Madan (1994). "The Nation's Bankers". Dyal Singh Majithia. New Delhi: Publ. Div., Ministry of Information and Broadcasting, Gov. of India. ISBN 81-230-0119-3.
- Tandon, Prakash (1989). Banking century: a short history of banking in India & the pioneer, Punjab National Bank. New Delhi, India: Viking. ISBN 978-0-670-82853-1.
- Turnell, Sean (2008). Fiery dragons : banks, moneylenders and microfinance in Burma. Nordic Institute of Asian Studies. Copenhagen: NIAS Press. ISBN 978-87-7694-602-9. OCLC 753966248.
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