Punjab National Bank is an
Indian multinational banking and financial
services company.
It is a state-owned
corporation based
in New Delhi, India. Founded in 1894, the bank has over 6,300 branches and
over 7,900 ATMs across 764 cities. It serves over 80
million customers.
Punjab
National Bank is one of the Big Four banks of India, along with State Bank of
India, ICICI Bank and Bank of Baroda. It is the third largest
bank in India in terms of asset size (billion by the end of FY 2012-13). The
bank has been ranked 248th biggest bank in the world by the Bankers' Almanac.
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. PNB owns 20%
of Everest Bank
Limited, which has 50 branches in Nepal. Lastly, PNB owns 84% of JSC (SB) PNB Bank in
Kazakhstan, which has four branches.
History
History
Punjab
National Bank was registered on 19 May 1894 under the Indian Companies Act,
with its office in Anarkali Bazaar, Lahore. The founding board was drawn from
different parts of India professing different faiths and a varied back-ground
with, however, the common objective of providing country with a truly national
bank which would further the economic interest of the country. PNB's founders included several
leaders of the Swadeshi movement
such as Dyal Singh
Majithia and
Lala Harkishan Lal, Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala,
Shri Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was actively associated with the
management of the Bank in its early years. The board first met on 23 May 1894. 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.
Timeline
In
1900, PNB established its first branch outside Lahore in Rawalpindi. 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 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
Ramakrishna Jain had established in 1938 in Dalmianagar, Bihar. PNP also amalgamated Indo Commercial Bank (est. 1932 by S.
N. N. Sankaralinga Iyer) in a rescue. In 1963, The Burmese
revolutionary government nationalized
PNB's branch in Rangoon (Yangon). This became
People's Bank No. 7.[7] After
the Indo-Pak
war, in September 1965 the government of Pakistan seized all the
offices in Pakistan of Indian banks. PNB also had one or more branches in East Pakistan (Bangladesh).
The Government of
India (GOI)
nationalized 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
nationalized in 1980. In 1998 PNB set up a representative office in Almaty, Kazakhstan.
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 inKabul, Afghanistan, a representative office in Shanghai, and
another in Dubai. PNB also established an alliance with Everest Bank
Limited 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 Thimpu, Phuentsholing, 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 Dena Bank. Within the
year PNB increased its ownership and now PNB owns 84% of what has become JSC
(SB) PNB. The subsidiary has branches in Almaty, Astana, Karaganda, and Pavlodar. Dena Bank was established on 20
October 1992 in Pavlodar. 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.
Financial
performance
#
|
Particulars
|
FY
2008-09
|
FY
2009-10
|
FY
2010-11
|
FY
2011-12
|
FY
2012-13
|
D
|
Total
Assets (' INR crores)
|
246,919
|
296,633
|
378,325
|
458,192
|
478,877
|
E
|
Operating Profit ('
INR crores)
|
5,690
|
7,326
|
9,056
|
10,614
|
10,907
|
F
|
3,091
|
3,905
|
4,433
|
4,884
|
4,748
|
|
G
|
Business/Employee
|
655
|
808
|
1,018
|
1,132
|
1,165
|
H
|
Profit/Employee
(' INR lakhs)
|
5.64
|
7.31
|
8.35
|
8.42
|
8.06
|
I
|
Return on assets (%)
|
1.39
|
1.44
|
1.34
|
1.19
|
1.00
|
J
|
Gross NPAs (%)
|
1.60
|
1.71
|
1.79
|
2.93
|
4.27
|
K
|
Net
NPAs (%)
|
0.17
|
0.53
|
0.85
|
1.52
|
2.35
|
L
|
Total
Branches
|
4,665
|
4,997
|
5,189
|
5,670
|
5,874
|
Listings and shareholding
PNB's
equity shares are listed on Bombay
Stock Exchange and
the National
Stock Exchange of India. It is a constituent of the CNX Nifty at the NSE.
Shareholders
(as on 31-Dec-2013)
|
Shareholding
|
Promoter
Group (Govt.
of India)
|
58.87%
|
Foreign
Institutional Investors (FII)
|
17.51%
|
Insurance
Companies
|
15.46%
|
Individual
shareholders
|
04.05%
|
Banks/Financial
Institutions/Mutual Funds/UTI
|
03.02%
|
Others
|
01.09%
|
Total
|
100.0%
|
Employees
As on
31 March 2015, the bank had 68,290 employees. As of 31 March 2013, it also had
919 employees with disabilities on the
same date (1.45%). The
average age of bank employees on the same date was 46 years. The bank reported business of INR
11.65 crores per employee and net profit of INR 8.06 lakhs per employee during
the FY 2012-13. The
company incurred INR 5,751 crores towards employee benefit expenses during the same financial
year.
Awards and recognitions
· Punjab National Bank was ranked #717 in the Forbes Global
2000 in May
2013.
· Punjab National Bank was ranked #26 in the Fortune India 500 ranking of 2011.
· PNB was awarded the 'Best Public Sector Bank' by CNBC
TV18 in
2012.
· In 2011, it received Golden Peacock Award for
"Excellence in Corporate Social Responsibility"[ and
"National Training Award".
Initiatives
The
bank incurred INR 3.24 crores on CSR activities like medical camps,
farmer trainings, tree plantations, blood donation camps etc. during the FY 2012-13.
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