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Punjab National Bank (abbreviated as PNB) is an Indian government public sector bank based in New Delhi. [5] It was founded in May 1894 and is the second-largest public sector bank in India in terms of its business volumes, with over 180 million customers, 12,248 branches, and 13,000+ ATMs .
PNB's first merger involved Hamilton Bank of central Pennsylvania in 1982; later, in the mid-1980s, it would take control of New Jersey National Bank of Trenton, New Jersey. Corestates Financial Corporation evolved out of the merger of PNB with Hamilton.
The proposed merger would make PNB the second largest public sector bank in the country with assets of ₹ 17.95 lakh crore (US$220 billion) and 11,437 branches. [11] [12] MD and CEO of UBI, Ashok Kumar Pradhan, stated that the merged entity would begin functioning from 1 April 2020. [13] [14] The Union Cabinet approved the merger on 4 March ...
On 30 August 2019, Finance Minister Nirmala Sitharaman announced that United Bank and Oriental Bank of Commerce would be merged with Punjab National Bank. The proposed merger would make Punjab National Bank the second largest public sector bank in the country with assets of ₹ 17.95 lakh crore (US$220 billion) and 11,437 branches. [2] [3] MD ...
A joint account is simply a bank account shared by two or more people, each with full access to the funds. Having a joint account can make it easier to manage shared expenses, but it's not always ...
The remaining subsidiaries, namely the State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore, and Bharatiya Mahila Bank were merged with State Bank of India with effect from 1 April 2017. Vijaya Bank and Dena Bank were merged into Bank of Baroda in 2018. [6]
On 30 August 2019, Finance Minister announced that the Oriental Bank of Commerce and United Bank of India would be merged with Punjab National Bank, making PNB the second largest PSB after SBI with assets of ₹ 17.95 lakh crore (US$220 billion) and 11,437 branches.
On December 12, 2007, official statements from PNB and Allied Bank confirmed the impending merger of both banks by early 2008. [14] In August 2009, PNB and Allied Bank were expected to complete their merger within the next six to nine months after the latter sells its 28% stake in California-based Oceanic Bank. [15]