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Punjab National Bank enters into a MOU with Honda Motorcycle & Scooter India: Report

15 Sep 2014 Evaluate

Punjab National Bank (PNB) has reportedly entered into a Memorandum of Understanding (MoU) with Honda Motorcycle & Scooter India (HMSI) to provide attractive retail finance to Honda's two-wheeler customers across India. With this MoU, HMSI customers can now buy a Honda two-wheeler at the industry's lowest finance rate of 12.25% (with daily reducing interest).

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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