Moody's upgrades PNB's outlook to positive

Global rating agency Moody's has upgraded the outlook on Punjab National Bank (PNB), which will merge OBC and United Bank of India with itself, to 'positive' from 'stable'.

Moody's Investors Service has also affirmed the local and foreign currency deposit ratings of PNB at Ba1/NP, and affirmed the bank's baseline credit assessments (BCAs).

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.