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Punjab National Bank to infuse Rs 72.82 crore in Druk PNB Bank

28 Apr 2023 Evaluate

Punjab National Bank (PNB) has planned to infuse Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank via a rights issue. The board has approved participation in the proposed rights issue of Druk PNB Bank (DPNBL).

PNB holds 51 per cent in the subsidiary as of now. DPNBL was incorporated on December 31, 2008, with FDI participation. The indicative time period for completion of the rights issue is by the end of August 2023.

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.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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