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.