PNB bounces back with Rs 247 crore
profit in Q3FY 2018-19

Thesynergyonline Banking Bureau

NEW DELHI, FEBRUARY 05 :
Punjab National Bank (PNB), India's largest nationalized bank, today announced its financial results for the third quarter ended December 31, 2018. The bank recorded a net profit of Rs 247 crore and an operating profit of Rs 10,134 crore for 9 months of financial year 2018-19.

During the quarter the bank saw its domestic advances rise by 6.7 per cent to Rs 4,58,641 crore as on December 2018 while its retail advances grew by 15 per cent y-o-y to Rs 85,766 crore.

The bank had started 'Mission Parivartan' at the beginning of this financial year to strengthen its processes, increase checks and balances and improve operational efficiency. These measures helped the bank in reducing its non-performing assets (NPAs) substantially.

The gross NPA ratio declined to 16.33per cent in December 2018 from 18.38 per cent in March 2018 and net NPAs fell to 8.22 per cent in December 20188 from 11.24 per cent in March '18.

Announcing the results Mr. Sunil Mehta, Managing Director & Chief Operating Officer, Punjab National Bank, said, "We had made a promise to bounce bank in 6 months and we have fulfilled it. We are happy to announce that the efforts of the extended PNB family, especially its employees, has borne fruit and we are back in black. The accelerated recovery program launched by the bank and streamlining of processes has played a crucial role in improving the bank's finances. We are also happy that this return to profitability is after 100 per cent provisions for all our commitments."

PNB, which has already recovered Rs 16,000 crore of NPAs, expects to meet its guidance on recovery for the full year and has improved its asset quality significantly. Customers also continue to repose their faith in the bank and domestic deposits have risen to INR 6,30,646 crore by end of December '18.

The bank continues to launch many new digital initiatives to continue its position as India's Preferred National Bank and provide a seamless customer experience:
• PNB One launched with interactive interface, features available; Scan and Pay through QR Code, Simplified dashboard to manage key banking activities, Pay Bills/Recharge, available in English and Hindi, Manage Debit and Credit Card and Bio-metric authentication for greater security, Value Added Services with Complaint Service Management

• Bank was identified as a Digital Partner in KumbhPrayagraj 2019 wherein Bank is providing PNB eRupaya, Made in India solution for digital payments and also providing facility of Mobile ATMs, Cash Deposit Machines to the pilgrims

• Online Loan Application customized for Housing, Car and Personal Loan modules

 

"Despite his best efforts, maintaining dignity in a head attached to an unclean body wrapped in unclean garments was a battle that encouraged surrender."
― Dan Groat, Monarchs and Mendicants

PNB holds cleanliness drive
at Dwarka headquarters

Thesynergyonline Bankng Bureau

Mr Sunil Mehta, MD & CEO, Punjab National Bank and other senior officials of the bank during cleanliness drive

 

NEW DELHI, JANUARY 30 : In line with the Govt of India campaign on Swachh Bharat Abhiyan – Swachhata Pakhwada 2019 a cleanliness drive was led by Mr Sunil Mehta, MD & CEO, Punjab National Bank at PNB Dwarka Headquarters.
On the occasion Mr Agyey Kumar Azad Executive Director, PNB and several General Managers and other senior officials also participated in the cleanliness drive.
Swachhata Pakwada is an initiative envisioned by the Prime Minister Mr Narendra Modi for making Swachhata " Everyone's Business".

Speaking on the occasion, Mr Sunil Mehta addressed the members on the staff of the bank stating that each one of us must campaign intensively for awareness generation of Swachh Bharat Abhiyan to create a cleaner environment.
He urged upon the participants to inculcate a culture of Swachtha ( Cleanliness) in our day to day life.

Mr Mehta also pondered over the fact that Swachtha should be adopted not only in office premises but also in our deeds. It should be made a practice and be inculcated in our daily life.

 

 

 

"It's no disgrace to be poor, but its might as well be."

PNB celebrates Republic Day by
felicitating India.s unsung heroes

Thesynergyonline Banking Bureau

NEW DELHI, JANUARY 26 : Pujab National Bank (PNB) celebrated India's 70th Republic Day on January 26, 2019. The auspicious occasion was celebrated at the PNB Headquarters, where MD & CEO, Mr Sunil Mehta hoisted the national flag and felicitated the unsung Heroes of the India.

Also present on the occasion were Mr L V Prabhakar and Mr Agyey Kumar Azad Executive Directors' of the Bank and CVO Mr Satish K Nagpal. The bank scouted individuals who have worked with determination to bring pride to the country and society at large. They all come from different walks of life and have contributed to the country in their own possible ways. The bank felicitated them with cash of Rs.21000/- to thank them for their making country proud and inspiring millions of Indians to bring a positive change to the world.

As part of the Corporate Social Responsibility (CSR) initiative, Punjab National Bank (PNB) is proactively catering to the needs and aspirations of the society. The bank is contributing to social welfare for the underprivileged through its various CSR schemes.

On the auspicious occasion of Republic Day, the bank contributed 10 wheelchairs and 5 stretcher trolley for the service of needy patients of Janakpuri Govt. Hospital New Delhi. The various CSR schemes initiated by PNB are PNB Ladli, PNB KisanBalak Shiksha Protsahan Yojana, Mahila Kaushal Vikas Yojana and PNB Prerna and these schemes are impacting so many lives across the country.

 

 

Punjab National Bank held its Extraordinary General Meeting of shareholders at its head office Dwarka for obtaining shareholders approval to issue and allot 638190364 equity shares to Government of India at face value of Rs2 each fully paid premium of Rs.83.10 per share amounting up to Rs.5431 crore on preferential basis to Govt of India.

 

Mr Sunil Mehta MD and CEO Punjab National Bank, felicitated by Mr Sunil Mehta Chairman Punjab National Bank on becoming IBA Chairman.

 

 

 

 

PNB Prerna holds CSR activity

Thesynergyonline Banking Bureau

 

NEW DELHI, AUGUST 10 :  PNB Prerna, Corporatre Social Repomnsibility arm of Punjab National Bank (PNB)  organized  an activity to at Municipal Corporation Primary School ( EDMC ) Khureji Khas-First Shift, Delhi on Friday wherein needy students of school were provided water cooler at a simple function organised by PNB Prerna at the school.


Dr.Jayanti Mehta, President PNB Prerna inaugurated water cooler. On this occassion she addressed the students and teachers of the school and mentioned that Prerna members are actively involved in support of social cause and upliftment of needy.     Smt. Vijitha Lingam and Smt Madhu Nagpal, Vice Presidents and other members of PNB Prerna were also present .School administration thanked all the members of PNB Prerna for their gesture.


CSR is an intergral part of overall PNB Corporate Business strategy.  The bank has been proactively catering to the needs and aspirations of the underprivileged section of  society .

 

 

 

 

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