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Old March 9th, 2016, 11:21 AM
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Join Date: Nov 2011
Default Re: Role of Punjab National Bank

Punjab National Bank is an Indian multinational managing an account and monetary administrations organization. It is a state-possessed organization situated in New Delhi, India. Established in 1894, the bank has more than 6,300 branches and more than 7,900 ATMs crosswise over 764 urban areas. It serves more than 80 million clients.

Punjab National Bank is one of the Big Four banks of India, alongside ICICI Bank, Bank of Baroda and State Bank of India. It has a saving money backup in the UK (PNB International Bank, with seven branches in the UK), and in addition branches in Hong Kong, Kowloon, Dubai and Kabul.

It has agent workplaces in Almaty (Kazakhstan), Dubai (United Arab Emirates), Shanghai (China), Oslo (Norway) and Sydney (Australia). In Bhutan it possesses 51% of Druk PNB Bank, which has five branches.

PNB possesses 20% of Everest Bank Limited, which has 50 branches in Nepal. Finally, PNB claims 84% of JSC (SB) PNB Bank in Kazakhstan, which has four branches.

A Maiden Dividend of 4% was announced after just 7 months of operation. Lala Lajpat Rai was the first to open a record with the bank which was housed in the working inverse the Arya Samaj Mandir in Anarkali in Lahore.

In 1951, the Bank assumed control over the advantages and liabilities of Bharat Bank Ltd. also, turned into the second biggest bank in the private area. In 1962, it amalgamated the Indo-Commercial Bank with it. From its dwindled stores of Rs. 43 crores in 1949 it rose to cross the Rs. 355 crores mark by the July 1969. Its number of workplaces had expanded to 569 and progresses from Rs. 19 crores in 1949 to Rs. 243 crores by July 1969 when it was nationalized.

PNB opened an agent office in Sydney, Australia. December 2012: PNB consented to an arrangement with US based life coverage organization Metlife to obtain a 30% stake in MetLife's Indian member MetLife India Limited. The organization would be renamed PNB MetLife India Limited and PNB would offer MetLife's items in its branches.
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