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Punjab National Bank raises Rs 250 crore through bonds

30 Mar 2017 Evaluate

Punjab National Bank (PNB), one of the country's largest lenders, has raised Rs 250 crore on March 29, 2017 through Unsecured Subordinated, fully paid-up, non-convertible, Basel III compliant, perpetual debt instruments (series X) in the nature of debentures for inclusion in additional tier I capital of face value of Rs 10.00 lakh each (bonds) at a coupon rate of 9.21% payable annually.

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.



Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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