Punjab National Bank (PNB), one of the country’s largest lenders, is raising Rs 500 crore capital through Tier-II Basel III compliant Bonds at an annual coupon of 9.35% on Private placement basis from September 04, 2014 to September 09, 2014 through five arrangers.
The bank’s net profit for first quarter ended June 30, 2014 rose by 10.17% at Rs 1405.12 crore as compared to Rs 1275.32 crore for the quarter ended June 30, 2013. Its total income has increased by 9.18% to Rs 12825.13 crore for the quarter under review from Rs 11746.59 crore for the corresponding quarter of the previous year.