Punjab National Bank is an Indian financial services company based in New

Delhi, 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. [3]
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, as well as branches in Hong Kong, Dubai and Kabul. It
has representative offices in Almaty (Kazakhstan), Dubai, Shanghai (China), Oslo (Norway)
and Sydney (Australia).[3]

Contents
[hide]

1 History
1.1 Timeline
1.2 Financial performance
2 Operations
3 Listings and shareholding
4 Employees
5 Awards and recognitions
6 Initiatives
7 See also
8 Citations and references
9 External links

History[edit]
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.[1] 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.[5][6] Lala Lajpat
Rai was actively associated with the management of the Bank in its early years. The board
first met on 23 May 1894. Ironically, the PNB Website now claims Lala Lajpat Rai to be the
founding father, surpassing Rai Mul Raj and Dyal Singh Majithia.[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]

Timeline[edit]
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 Indiaafter 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 in Kabul, Afghanistan, a representative office in Shanghai,
and another in Dubai. PNB also established an alliance with Everest Bank 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, Wembly, 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. [8]

Financial performance[edit]
#
A
B
C
D
E
F
G
H
I
J
K
L

Particulars[3]

FY 2008- FY 2009- FY 2010- FY 2011FY 2012-13

09
10
11
12
209,761
249,330
312,899
379,588
391,560
154,703
186,601
242,107
293,775
308,725
364,464
435,931
555,006
673,363
700,285
246,919
296,633
378,325
458,192
478,877
5,690
7,326
9,056
10,614
10,907

Deposits (' INR crores)

Advances (' INR crores)
Total Business (A+B) (' INR crores)
Total Assets (' INR crores)
Operating Profit (' INR crores)
Net Profit| style="text-align:right;"|
3,905
3,091
655
808
Profit/Employee (' INR lakhs)
5.64
Return on assets (%)
1.39 | 1.44
Gross NPAs (%)
1.60
Net NPAs (%)
0.17
Total Branches
4,665

4,433

4,884

4,748

1,018
7.31
1.34
1.71
0.53
4,997

1,132
8.35
1.19
1.79
0.85
5,189

1,165
8.42
1.00
2.93
1.52
5,670

8.06
4.27
2.35
5,874

Operations[edit]
The bank had 6,351 branches in India as on 30 September 2014. It also had 4 overseas
branches out of which 2 were in Dubai and one each in Dubai and Kabul. The total business of
overseas branches was billion as on 31 March 2013, which accounted for 6.98% of its total
business. Bank also has one joint venture in Nepal - Everest Bank Limited which has 48
branches.[3]

Listings and shareholding[edit]

PNB's equity shares are listed on Bombay Stock Exchange and the National Stock Exchange of
India.[9][10] It is a constituent of the CNX Nifty at the NSE.[11]

Shareholders (as on 31-Dec-2013)

Promoter Group (Govt. of India)
Foreign Institutional Investors (FII)
Insurance Companies
Individual shareholders
Banks/Financial Institutions/Mutual
Funds/UTI
Others
Total

Shareholding[12]
58.87%
17.51%
15.46%
04.05%
03.02%
01.09%
100.0%

Employees[edit]

PNB office in Lucknow

As on 31 March 2013, the bank had 63,292 employees, out of which 11,594 were women
(18%). It also had 919 employees withdisabilities on the same date (1.45%).[3] The average
age of bank employees on the same date was 46 years.[3] The bank reported business of INR
11.65 crores per employee and net profit of INR 8.06 lakhs per employee during the FY 201213.[3] The company incurred INR 5,751 crores towards employee benefit expenses during the
same financial year.[3]

Awards and recognitions[edit]

Punjab National Bank was ranked #717 in the Forbes Global 2000 in May 2013.[13]
Punjab National Bank was ranked #26 in the Fortune India 500 ranking of 2011.[14]
PNB was awarded the 'Best Public Sector Bank' by CNBC TV18 in 2012.[15]
The bank was recognised as the 'most socially responsive bank' by Businessworld and PwC in
2012.[16][17]
In 2011, it received Golden Peacock Award for "Excellence in Corporate Social
Responsibility"[18] and "National Training Award".[19]

Initiatives[edit]
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.[3]

See also[edit]
Banking in India
List of banks in India
List of companies of India

Citations and references[edit]

Citations

1.
2.

^ Jump up to:a b c d "Origin of PNB". Punjab National Bank. Retrieved 18 February 2014.

3.

^ Jump up to:a b c d e f g h i j k l m "Annual Report 2012-13". PNB. Retrieved 18 February 2014.

Jump up^ "History of PNB". NDTV.com. Retrieved 18 February 2014.

4.
5.

^ Jump up to:a b c "Financials Information for Punjab National Bank". Hoover's. Retrieved18 February 2014.

6.

Jump up^ Tandon (1989).

7.

Jump up^ Turnell (2009), p.226.

8.

Jump up^ "Punjab National Bank acquires 30% stake in Metlife, company to be re-branded". The Indian

Jump up^ Singh Majithia (1994).

Express. 4 January 2013. Retrieved 18 February 2014.

9.

Jump up^ "Punjab National Bank". BSEindia.com. Retrieved 18 February 2014.

10.Jump up^ "Punjab National Bank". NSE India. Retrieved 18 February 2014.
11.Jump up^ "Download List of CNX Nifty stocks (.csv)". NSE India. Retrieved 18 February 2014.
12.Jump up^ "Punjab National Bank - Shareholding Pattern - December 2013". MoneyControl.com. Retrieved 18
February 2014.

13.Jump up^ "Punjab National Bank on the Forbes Global 2000 List". Forbes. May 2013. Retrieved18
February 2014.

14.Jump up^ "13 Best Banks of India". Silicon India. 19 November 2012. Retrieved 18 February2014.
15.Jump up^ "IBFA awards the best in banking, insurance cos". MoneyControl.com. 17 October 2012.
Retrieved 18 February 2014.

16.Jump up^ "PNB Awards". Punjab National Bank. Retrieved 18 February 2014.
17.Jump up^ "A Shining Account". Business World. 16 November 2012. Retrieved 18 February 2014.
18.Jump up^ "Corporate Social Responsibility (GPACSR)". goldenpeacockawards.com. Retrieved18
February 2014.

19.Jump up^ "National Training Award (GPNTA)". goldenpeacockawards.com. Retrieved18 February 2014.
References
Gopal, Madan (1994). "The Nation's Bankers". Dyal Singh Majithia. New Delhi: