About
Punjab National Bank (PNB) was established in 1894 in Lahore. It is the second largest public sector bank in India both in terms of network and business. It serves its over 180 million customers through a massive network of 10,910 branches and over 13,000 ATMs in India.
Listing and Revenue
PNB is listed on both BSE and NSE stock exchange.
| Revenue | ₹ 80,512 crore |
| Operating Income | ₹ 26,712 crore |
| Net Income | ₹ 3,36 crore |
| Total Assets | ₹ 8,30,666 crore |
Products and Services
PNB offers various financial products and services in numerous segments including Agricultural Banking Corporate Banking, NRI Banking, MSME Banking, Social Banking, and Personal Banking among others.
History
In 1900 PNB opened its first branch outside Lahore in India. Branches in Karachi and Peshawar followed. PNB lost its Lahore office after the partition of India and was forced to 92 office in West Pakistan. PNB shifted its office to New Delhi after taking the permission from Lahore High Court on 20 June 1947.
After the Indo-Pak war, on September 1965 the government of Pakistan seized all the offices of Indian banks in Pakistan including the branches of PNB.
Acquisitions
PNB started its acquisition spree in 1940 when PNB absorbed Bhagwan (or Bhugwan) Dass Bank. In 1951, it acquired Bharat Bank that later became Bharat Nidhi Ltd. It acquired Universal Bank of India in 1961 and also amalgamated Indo Commercial Bank in the same year.
PNB bought the controlling stake in Nedungadi Bank in 2003. It was the oldest private bank in Kerala. In 2019, Oriental Bank of Commerce and United Bank of India merged with Punjab National Bank. The merger came into effect on 1 April 2020.
Awards and Recognitions
Some of the prominent awards earned by PNb in the recent history include IBA Banking Technology Awards 2020, Best State Nodal Bank Award 2018-19, BFSI Digital Innovation Awards 2019, Digital Payments Award 2018-19, Bank of the year award 2019, PNB wins SCOPE CCE Award 2019, Rajbhasha Kirti Award 2019, and PNB wins Governance Now BFSI Awards 2019 among others.
Subsidiaries
PNB has a banking subsidiary in the UK with seven 7 branches. It also runs branches in Hong Kong, Dubai, Kowloon, and Kabul. It also has representative offices in Almaty (Kazakhstan), Shanghai (China), Dubai (United Arab Emirates), Oslo (Norway), and Sydney (Australia).
In Bhutan Punjab National Bank owns 51% of Druk PNB Bank. It also runs five branches. In Nepal PNB owns a 20% stake in Everest Bank Limited Lastly and 41.64 % stake in JSC (SB) PNB Bank in Kazakhstan.