Punjab National Bank (PNB) has reportedly revived the process to divest its 33% stake in PNB Housing Finance. In this regards, the bank has appointed PNB Investment Services and Credit Suisse as its investor scouts.
The deal will likely fetch around Rs 5,200 crore to PNB. The lender is also looking to sell its stakes in ICRA, CRISIL and BSE to raise capital and meet the regulatory norms.
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.
