Punjab National Bank (PNB) is a state-owned commercial bank located in New Delhi. PNB is one of the leading commercial banks in India. They offer banking products, and also operate credit card and debit card business, bullion business, life and non-life insurance business, and gold coins and asset management business. It offers a wide array of business banking services, including trade finance, loans, and digital banking solutions. Further, PNB Gilts is one of the major players in Debt Market and is a primary dealer.
The bank has four overseas branches in Hong Kong, Dubai and Offshore Banking Unit in Mumbai and Representative Offices (RO) at Dubai (UAE), Shanghai (China), Sydney (Australia) and Dhaka (Bangladesh). The bank has two overseas subsidiaries viz. PNB International Ltd. (UK) and Druk PNB Bank Ltd (Bhutan). The bank also has one associate company viz. JSC Tengri Bank (Kazakhstan) and one Joint Venture Bank in Nepal i.e. Everest Bank Ltd. The bank has got permission from RBI for opening Representative office in Yangon (Mynamar).
Punjab National Bank was incorporated in the year 1895 at Lahore, undivided India. The Bank has the distinction of being the first Indian bank to have been started solely with Indian capital. In the year 1940, the Bank absorbed Bhagwan Dass Bank, a scheduled bank located in Delhi circle. In the year 1951, they acquired the 39 branches of Bharat Bank and in the year 1961, they acquired Universal Bank of India.
Punjab National Bank was nationalised in July 1969 along with 13 other banks. In the year 1986, they acquired Hindustan Commercial, which added Hindustan's 142 branches to the Bank's network. In the year 1993, they acquired New Bank of India which the GOI. During the year 1996, they developed a packaged for corporate customers for fast remittance of funds from different up-country branches. In the year, they set up a representative office in Almaty, Kazakhstan.
In the year 2000, the Bank has introduced a scheme for