CRISIL

Punjab National Bank (PNB) – India’s fourth largest public sector lender in terms of market value – is all set to report its financial results for the quarter ended March 2023. Analysts expect the PSU bank to clock a robust performance driven by double-digit loan growth and stable asset quality.

Punjab National Bank is all set to report its financial results for the quarter ended March 2023

Public sector lender Punjab National Bank has raised Rs 1,859 crore in capital through additional tier I bonds (AT-I bonds) to meet regulatory norms and support business growth. The coupon for the bonds was fixed at 8.47 per cent.The amount raised by the lender was lower than the indicative amount of Rs 2,000 crore. The base issue size was Rs 500 crore with a green issue option of Rs 1,500 crore. These bonds have a call option at the end of five years.

Punjab National Bank raises Rs 1,859 crore in capital via AT-I bonds

The bank saw rise in slippages during FY21 largely in the corporate, MSME and agriculture segments with a slippage ratio of at 3.90%

During FY21, the bank reported Profit After Tax of Rs.2,022 crores on total income of Rs.93,562 crores.

During FY21, the bank’s advances declined by 3% at Rs.7,39,407 crores against industry credit growth of 5.6%, as the bank by went slow in disbursements.

The issuer has made timely interest payments.

Shri Atul Kumar Goel, MD and CEO

Systemic importance and the dominant position of the PNB in the domestic banking system, the importance of the bank to GOI has increased and the bank is expected to receive timely and adequate capital and operational support from GOI as and when required.

Established in 1894, PNB has a long and established operational track record of more than 12 decades and is the one of the largest nationalized banks in terms of business and outreach

8.75%Punjab National Bank (P) Call : 06 Jul 2027

ISIN:

INE160A08225

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Punjab National Bank

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Punjab National Bank is all set to report its financial results for the quarter ended March 2023

Punjab National Bank raises Rs 1,859 crore in capital via AT-I bonds

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