PNB’s board gives in-principle approval for merger with OBC, United Bank

Punjab National Bank's (PNB) board has considered and decided to give its in-principle approval for amalgamation of the Oriental Bank of Commerce (OBC) and United Bank of India into bank.

Further, the Board has also approved the capital infusion of upto Rs 18,000 crore by Government of India for preferential allotment of equity shares of PNB. The Board of Directors of the Bank at its meeting held on September 5, 2019 have considered and decided the same.

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.