PNB declines on dropping plan to enter into Canadian market

Punjab National Bank | Bank - Public | BFSI | BSE: 532461 | NSE: PNB

23 Jun 2014 Evaluate

Punjab National Bank is currently trading at Rs 952.05, down by 0.35 points or 0.04 % from its previous closing of Rs. 952.40 on the BSE.

The scrip opened at Rs. 953.35 and has touched a high and low of Rs. 963.90 and Rs. 938.70 respectively. So far 80457 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1068.00 on 26-May-2014 and a 52 week low of Rs. 402.20 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 996.00 and Rs. 921.95 respectively. The current market cap of the company is Rs. 34539.66 crore.

The promoters holding in the company stood at 58.87% while Institutions and Non-Institutions held 35.85% and 5.27% respectively.

As regulatory clearances were taking a long time, Punjab National Bank (PNB), the country’s largest lender, has dropped plans of entering the Canadian market. Earlier, the bank had plans to open a subsidiary in Canada with a capital of Rs 100 crore to serve Indian community as well as to finance bilateral trade and investments. At present, the bank has overseas footprints in 10 countries with 4 overseas branches.

Meanwhile, the bank is planning to upgrade its representative office in Sydney (Australia) to a full-fledged branch. The bank has got permission from RBI for opening a representative office in Yangon (Mynamar) and Dhaka (Bangladesh).

The bank posted a fall of 28.69% in its net profit at Rs 806.35 crore for the quarter ended March 31, 2014 as compared to Rs 1130.80 crore for the same quarter in the previous year. However, total income of the bank increased by 8.18% at Rs 12498.23 crore for quarter under review as compared to Rs 11552.84 crore for the quarter ended March 31, 2013.

PNB Share Price

109.35 -1.80 (-1.62%)

30-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	1068.00
PNB	109.35
Canara Bank	134.65
Bank Of Baroda	263.50
Union Bank Of India	166.00
View more..

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