 | |
 Headquarters inDwarka, Delhi | |
| Company type | Public |
|---|---|
| BSE: 532461 NSE: PNB | |
| Industry | Banking,Financial services |
| Founded | 19 May 1894; 131 years ago (1894-05-19)[1][2] |
| Founder | |
| Headquarters | Dwarka, Delhi, India |
Number of locations | 10,189 branches and 11,822 ATMs (2025) |
Key people |
|
| Products | |
| Revenue |  ₹1.38 lakh crore (US$16 billion) (2025) |
| ₹26,831 crore (US$3.2 billion)[citation needed] (2025) | |
| ₹16,630 crore (US$2.0 billion)[citation needed] (2025) | |
| Total assets | ₹18.18 lakh crore (US$220 billion)[citation needed] (2025) |
| Total equity | ₹1.08 lakh crore (US$13 billion)[citation needed] (2024) |
| Owner | Government of India (70.08%) |
Number of employees | 1,02,746 (2025)[4] |
| Subsidiaries | PNB MetLife India Insurance Company PNB Housing Finance Limited PNB Cards and Services Limited |
| Capital ratio | 14.14% (2020) |
| Website | |
Punjab National Bank, also known asPNB, is anIndian public sector bank based inNew Delhi.[5] Founded in May 1894, the bank has 10,189 branches and 11,822ATMs as of March 2025.[6]
PNB has a banking subsidiary in theUK (PNB International Bank, with seven branches in the UK), as well as branches inHong Kong,Kowloon,Dubai, andKabul. It has representative offices inAlmaty (Kazakhstan),Dubai (United Arab Emirates),Shanghai (China),Oslo (Norway), andSydney (Australia). InBhutan, it owns 51% of Druk PNB Bank, which has five branches. InNepal, PNB owns 20% ofEverest Bank, which has 122 branches. PNB also owns 41.64% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.
Punjab National Bank is aPublic Sector Undertakings in India (PSU) working under theGovernment of India regulated by theReserve Bank of India Act, 1934 and the Banking Regulation Act, 1949. It was registered on 19 May 1894 under the Indian Companies Act, with its office inAnarkali Bazaar, in pre-independent India (present-dayPakistan). The founding board was drawn from different parts of India professing different faiths and of varying backgrounds, with the common objective of creating a truly national bank that would further the economic interest of the country.[1] PNB's founders included several leaders of theSwadeshi movement such as,Dyal Singh Majithia andLala Harkishen Lal, Lala Lalchand, Kali Prosanna Roy, E. C. Jessawala, Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass.[7][8]Lala Lajpat Rai was actively associated with the management of the Bank in its early years. The board first met on 23 May 1894.[1] The bank opened for business on 12 April 1895 in Lahore.[citation needed]
PNB is the first Indian bank to have been started solely with Indian capital that survives to the present, as the earlierOudh Commercial Bank, which was established in 1881, failed in 1958.[citation needed]
Mahatma Gandhi,Jawaharlal Nehru,Lal Bahadur Shastri,Indira Gandhi and theJalianwala Bagh Committee have held PNB accounts.[1][non-primary source needed]
In 1900, PNB established its first branch outside Lahore in India. Branches inKarachi andPeshawar followed. The next major event occurred in 1940 when PNB absorbed Bhagwan (or Bhugwan) Dass Bank, which had its head office inDehra.[citation needed]
At thePartition of India and the creation of Pakistan, PNB lost its premises in Lahore, but continued to operate in Pakistan. Partition forced PNB to close 92 offices inWest Pakistan, one-third of its total number of branches, and which held 40% of the total deposits. PNB still maintained a few caretaker branches. On 31 March 1947, even before Partition, PNB had decided to leave Lahore and transfer its registered office to India; it received permission from the Lahore High Court on 20 June 1947, at which time it established a new head office at Under Hill Road, Civil Lines in New Delhi. Lala Yodh Raj was the Chairman of the Bank.[citation needed]
In 1951, PNB acquired the 39 branches of Bharat Bank (est. 1942). Bharat Bank became Bharat Nidhi Ltd. In 1960, PNB again shifted its head office, this time from Calcutta to Delhi. In 1961, PNB acquired Universal Bank of India, which Ramkrishna Dalmia had established in 1938 inDalmianagar,Bihar. PNB also amalgamated Indo Commercial Bank (est. 1932 byS. N. N. Sankaralinga Iyer) in a rescue. In 1963, TheBurmese revolutionary government nationalised PNB's branch in Rangoon (nowYangon). This became People's Bank No. 7.[9] After theIndo-Pak war of 1965, the government of Pakistan seized all the offices in Pakistan of Indian banks in September 1965. PNB also had one or more branches inEast Pakistan (nowBangladesh).[citation needed]
The government of India (GOI) nationalised PNB and 13 other major commercial banks, on 19 July 1969. In 1976 or 1978, PNB opened a branch inLondon. some ten years later, in 1986, theReserve Bank of India required PNB to transfer its London branch toState Bank of India after the branch was involved in a fraud scandal. That same year, 1986, PNB acquired Hindustan Commercial Bank (est. 1943) in a rescue. The acquisition added Hindustan's 142 branches to PNB's network. In 1993, PNB acquiredNew Bank of India, which the GOI had nationalised in 1980. In 1998 PNB set up a representative office inAlmaty, Kazakhstan.[citation needed]
In 2003, PNB took overNedungadi Bank, the oldest private sector bank inKerala. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares. PNB also opened a representative office in London. In 2004, PNB established a branch inKabul, Afghanistan, a representative office in Shanghai, and another inDubai. PNB also established an alliance withEverest Bank in Nepal that permits migrants to transfer funds easily between India and Everest Bank's 12 branches in Nepal. Currently, PNB owns 20% of Everest Bank. Two years later, PNB established PNBIL – Punjab National Bank (International) – in the UK, with two offices, one in London, and one in Southall. Since then it has opened more branches, this time in Leicester, Birmingham, Ilford, Wembley, and Wolverhampton. PNB also opened a branch in Hong Kong. In January 2009, PNB established a representative office in Oslo, Norway. PNB hopes to upgrade this to a branch in due course. In January 2010, PNB established a subsidiary inBhutan. PNB owns 51% of Druk PNB Bank, which has branches inThimphu,Phuntsholing, andWangdue. Local investors own the remaining shares. Then on 1 May, PNB opened its branch in Dubai's financial center. PNB purchased a small minority stake in Kazakhstan-based JSC Danabank established on 20 October 1992 in Pavlodar. Within the year PNB increased its ownership till 84% of what has become JSC (SB) PNB, with its share currently decreased to 49%. The associate in Kazakhstan now called JSC Tengri Bank has branches inAlmaty,Nur-Sultan,Karaganda,Pavlodar and Shymkent. September 2011: PNB opened a representative office inSydney, Australia. December 2012: PNB signed an agreement with US based life Insurance companyMetLife to acquire a 30% stake in MetLife's Indian affiliate MetLife India Limited. The company would be renamed PNB MetLife India Limited and PNB would sell MetLife's products in its branches.[10][11][12][13]
PNB disclosed in February 2018 that it detected fraudulent transactions of up to $1.77 billion.[14][15]
| Acquisition date | Company | Location | Ref. |
|---|---|---|---|
| 1951 | Bharat Bank Ltd. | New Delhi, India | [citation needed] |
| 1961 | Universal Bank of India | Dalmianagar,Bihar, India | [citation needed] |
| 1962 | Indo-Commercial Bank | India | [citation needed] |
| 1986 | Hindustan Commercial Bank | India | [citation needed] |
| 1993 | New Bank of India | New Delhi, India | [16] |
| 2003 | Nedungadi Bank | Kozhikode,Kerala, India | [17] |
| 2020 | Oriental Bank of Commerce | Gurgaon (Head Office) | [18] |
| United Bank of India | Kolkata (Head Office) |
On 30 August 2019,Finance MinisterNirmala Sitharaman announced that theOriental Bank of Commerce andUnited Bank of India would be merged with Punjab National Bank. The proposed merger would make Punjab National Bank[19] the second largest public sector bank in the country with assets of₹17.95 lakh crore (US$210 billion) and 11,437 branches.[20][21] The Union Cabinet approved the merger on 4 March 2020. PNB announced that its board had approved the merger ratios the next day. Shareholders of Oriental Bank of Commerce and United Bank will receive 1,150 shares and 121 shares of PNB, respectively, for every 1,000 shares of they hold.[22] On 1 April 2020, the merger came into effect.[23][24] Post-merger, all customers of other two merging banks are now treated as the customers of PNB.[25]
PNB's equity shares are listed onBombay Stock Exchange and theNational Stock Exchange of India.[26][27] It is a constituent of theNifty 50 index at theNSE.[28] As of 30 June 2024[update], the shareholding structure of the bank is as follows.
| Shareholder | Percentage[29][30] |
|---|---|
| Promoters & Promoter Group | 73.15 |
| Domestic institutional investors | 10.76 |
| Foreign Institutional Investors | 5.51 |
| Public & Other | 10.57 |
Source:[31]
As of 31 March 2025, the bank had 102,746 employees. As of 31 March 2019, it also had 1,722 employees withdisabilities on the same date (2.43%).[33] The average age of bank employees on the same date was 39 years.[34] The bank reported the business of₹11.65 crore (US$1.4 million) per employee and net profit of₹8.06 lakh (US$9,500) per employee during the FY 2012–13.[11] The company incurred₹5,751 crore (US$680 million) towardsemployee benefit expenses during the same financial year.[11]
The bank incurred₹3.24 crore (US$380,000) oncorporate social responsibility activities like medical camps, farmer training, tree plantations,blood donation camps etc. during the FY 2012–13.[11]
For the financial year 2018–2019, PNB incurred a sum of₹2,954.15 lakh (US$3.5 million) on CSR initiatives. Among many initiatives, one such effort is PNB Ladli, which started in 2014. The scheme initiated to promote education among girls of Rural / Semi-urban areas.[35]
During the year 2018–19, PNB has also taken the initiative for donations to CM relief fund for Kerala and Kumbh Mela.[35]
For the year FY18-19, PNB has initiated₹1,851.41 for RSETIs.[35]
To help young talents in India, the bank also initiated PNB Hockey Academy, one of the major efforts towards supporting the national games.[35]
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