Punjab National Bank zooms on aiming Rs 32,000 crore recoveries from resolution of bad loans in current fiscal

Punjab National Bank is currently trading at Rs. 32.55, up by 1.20 points or 3.83% from its previous closing of Rs. 31.35 on the BSE.

The scrip opened at Rs. 31.55 and has touched a high and low of Rs. 32.70 and Rs. 31.35 respectively. So far 2760427 shares were traded on the counter.

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Punjab National Bank

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 47.60 on 26-Oct-2021 and a 52 week low of Rs. 28.05 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 33.40 and Rs. 31.30 respectively. The current market cap of the company is Rs. 35070.08 crore.

The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 12.44% and 14.41% respectively.

Punjab National Bank (PNB) is aiming about Rs 32,000 crore-worth recoveries from the resolution of bad loans in the current fiscal. The bank’s total recovery during the first quarter was Rs 7,057 crore. The slippages were at Rs 6,468 crore during the same period. Besides, the bank is contemplating to increase interest rate on Foreign Currency Non-Resident (Bank) (FCNR(B)) deposits.

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.