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Punjab National Bank is an Indian multinational banking and financial services company. Founded in 1894, its a state-owned corporation based in New Delhi, India
Punjab National Bank is an Indian multinational banking and financial services company. Founded in 1894, its a state-owned corporation based in New Delhi, India

Punjab National Bank (PNB)
Punjab National Bank (PNB) is one of India’s second-largest public sector banks. It started its operations on 12th April 1895 with an authorised capital of Rs. 2 lacs and working capital of Rs. 20,000. Punjab National Bank is also known as the first Swadeshi Bank of India because it was the first banking institution to be entirely operated by Indians using Indian capital.
Punjab National Bank - Origin and Business Overview
A Brief History of Punjab National Bank
Punjab National Bank has a history of more than 125 years. The idea of establishing the first national bank of India gave birth to PNB on 19th May 1894. The bank became operational on 12th April 1895, and within 7 months of its inception, it declared a 4% dividend. Then, the bank’s board of directors consisted of 7 members, who belonged to different social and professional backgrounds.
Lala Lajpat Rai became the first person to open an account with the Punjab National Bank. This account was opened in the Lahore branch of the bank. Further, in 1900, the Bank’s first branch outside Lahore was opened in Rawalpindi.
In the period from 1941 to 1946, the Punjab National Bank experienced significant growth. Bank’s branches increased from 71 to 278, and deposits grew from Rs. 10 crores to Rs. 62 crores. Eventually, on 31st March 1947, Punjab National Bank decided to leave Lahore, and the permit to transfer was granted on 20th June 1947.
Recent Business Overview of Punjab National Bank
As per the report FY 2023-24, Punjab National Bank had registered a gross business of Rs 23 lakh crores till 31st March 2024. During the Financial year 2023 - 24, PNB’s net profit was Rs 8,245 crores, representing a year-on-year (yoy) growth of 228%. This was the highest net profit among all the public sector banks.
The gross non-performing assets (NPAs) of Punjab National Bank were reduced to Rs 56,343 crores as on 31st March 2024, showcasing a decline of 16.4% from the figures of the previous year. Along with this, the capital adequacy ratio of the Bank reached 15.97% compared to 15.50% as on 31st March 2023.
As of 31st March 2024, Punjab National Bank operated 10,136 branches domestically. On the international front, the bank operated in 6 countries. It has 1 branch in Dubai, 2 subsidiaries in London & Bhutan, 1 JV in Nepal, and 2 representative offices in Myanmar and Bangladesh. PNB also has a branch in Gifty City, Gujarat, which caters to the bank’s international business.
What are the Services Offered by Punjab National Bank?
Like every other banking institution in India, Punjab National Bank also offers a wide range of banking services. These services are primarily divided into four categories: personal, corporate, international, and capital services. These broad categories are further distributed among various niche services such as deposits, loans, insurance, mutual fund distributions, depository participants, and many more.
Punjab National Bank Portfolio and Networth
Punjab National Bank also operates in the capital market as an institutional investor. The bank invests in publicly traded securities on the Indian stock market. According to the latest information, the portfolio of Punjab National Bank consists of 14 stocks with an accumulated net worth of Rs 12,382.51 crores.
PNB’s portfolio is well diversified into a wide range of sectors, including Finance (47.6%), Infrastructure (20.3%), Diamond and jewellery (16.2%), Aviation (6.2%), and other sectors. The portfolio of Punjab National Bank includes stocks such as PC Jewellers, MSP Steel and Power, Goenka Jewels, Gujarat State Financial Corporation, and other notable shares.
FAQs
What are the assets of Punjab National Bank?

As of 31st March 2024, Punjab National Bank has total assets worth more than 15.61 lakh crores. These figures are as per the annual report of FY 2023-24.
How much of the government owns in PNB?

As of September 2023, the government of India has a 73.15% stake in Punjab National Bank, making it the majority shareholder in the bank.
Why is PNB famous?

Punjab National Bank (PNB) is India’s second-largest public sector bank, which commenced operations on 12th April 1985. As of September 2024, PNB has more than 10,000 domestic branches, 12,040 ATMS & 33,010 business and correspondents.
What is the portfolio of Punjab National Bank?

The Punjab National Bank portfolio includes 14 Indian stocks, which are valued at Rs 12,382.51 crores. Some of the notable stocks in PNB’s portfolio are PC Jewellers, Ushdev International Limited, and MSP Steel & Power Limited.
Which bank merged with PNB?

According to the latest data, with effect from 1st April 2020, Oriental Bank of Commerce and the United Bank of India were merged into Punjab National Bank. It made PNB the second-largest public sector bank in India in terms of branch network.