Punjab National Bank (PNB), one of the country's largest lenders, is reportedly planning to sell an around 7% stake in PNB Housing Finance. The bank has already received interest from some players, including private equity investors. At current price, a 7% stake in the newly listed company will fetch nearly Rs 1,200 crore. The bank currently holds a 39% stake in PNB Housing Finance.
PNB has posted over four-fold jump in its net profit at Rs 207.18 crore for the quarter ended December 31, 2016 as compared to Rs 51.01 crore for the quarter ended December 31, 2015. Total income of the Bank increased by 4.37% at Rs 14497.65 crore for Q3FY17 as compared Rs 13891.20 crore for the corresponding quarter previous year.