Moody’s Investors Service has affirmed the local currency and foreign currency bank deposit rating of Punjab National Bank at Baa3/Prime-3, while it has also affirmed the Bank's foreign currency issuer rating at Baa3.
At the same time, Moody's has affirmed the Bank's Baseline Credit Assessment (BCA) and Adjusted BCA at ba3. Moody's has also affirmed the Bank's Counterparty Risk Assessment (CRA) at Baa3 (cr) /Prime-3 (cr). The outlook, where applicable, has been changed to stable from positive.
Punjab National Bank is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
