Punjab National Bank ATM

Sriram Sahu Silu 47 months ago

Punjab National Bank (PNB) is an Indian public sector banking and financial service company, with its headquarters in New Delhi, India. The bank was founded in 1894. As of 31 March 2019, the bank has over 110 million customers, 7001 branches (7,000 as on 2nd oct, 2018) and 10681 ATMs across 764 cities.[6]

Punjab National Bank

Type

PublicTraded asBSE: 532461
NSE: PNB
CNX Nifty ConstituentIndustryBanking, Financial servicesFounded19 May 1894; 125 years ago[1][2]FounderDyal Singh Majithia
Lala Lajpat RaiHeadquartersNew Delhi, India

Key people

Sunil Mehta
(Chairman & MD)[3]ProductsCredit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth managementRevenue₹58,687 crore (US$8.5 billion) (2019)[4]

Operating income

₹12,995 crore (US$1.9 billion) (2019)[4]

Net income

₹-9,975 crore (US$−1.4 billion) (2019)[4]Total assets₹774,949 crore (US$110 billion) (2019) [4]OwnerGovernment of India (75.4%)

Number of employees

70,810 (2019)[5]Capital ratio11.28% (2016)[5]Websitepnbindia.in

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 84% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.

HistoryEdit

Punjab National Bank is a PSU working under Central Government of India regulated by Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949. Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore, in present-day Pakistan. The founding board was drawn from different parts of India professing different faiths and of varying back-ground 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.

PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present. (The first entirely Indian bank, Oudh Commercial Bank, was established in 1881 in Faizabad, but failed in 1958.)

PNB has had the privilege of maintaining accounts of national leaders such as Mahatma Gandhi, Jawahar Lal Nehru, Lal Bahadur Shastri, Indira Gandhi, as well as the account of the famous Jalianwala Bagh Committee.[1]

TimelineEdit



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 Dehra Dun.

At the Partition of India and the commencement of Pakistani independence, 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.

In 1951, PNB acquired the 39 branches of Bharat Bank (est. 1942). Bharat Bank became

Surendra Hota 16 months ago

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