Punjab National Bank (PNB) has put nine of its large stressed accounts for resolution under Insolvency and Bankruptcy Code 2016 (IBC). The state-owned bank has taken this step for resolution of large ticket advances. The stressed assets, including restructured and gross non-performing assets (GNPAs), declined to Rs 68,772 crore as on June 30, 2017 from Rs 75,564 crore as on June-end in 2016.
PNB 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.