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Punjab National Bank to raise Rs 500 crore through Tier-ll Bonds

04 Sep 2014 Evaluate

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.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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