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PNB plans to sell stake in PNB Housing Finance, PNB Gilts in FY18

09 Feb 2017 Evaluate

Punjab National Bank (PNB) is planning to sell its stake in PNB Housing Finance and PNB Gilts in the next financial year (FY), to shore up its capital base. The bank may not sell the stake in its life insurance arm PNB MetLife at this point. Last October, the bank had listed PNB Housing Finance.

The Bank has posted over four-fold jump in its net profit at Rs 207.18 crore for the quarter as compared to Rs 51.01 crore for the quarter ended December 31, 2015. The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 13.70%, as compared to 8.47% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 9.09% in Q3FY17.

 

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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