Top 10 Banks in India 2015

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5. Punjab National Bank

Registered on May 19, 1894 with its office in Anarkali Bazaar, Lahore the Punjab National Bank is one of the oldest banks in the country.


The founding members of the bank included several leaders of the Swadeshi Movement with varied backgrounds. The common objective however was to provide the country a truly national bank in order to support the economic interest of the nation. The PNB started its operations on April 12, 1895. During its initial years Lala Lajpat Rai was actively involved in the Bank’s management. Post its establishment PNB began expanding in Pakistan and also acquired the Bhagwan Dass bank. During the partition of India PNB continued to operate in Pakistan but lost its premises in Lahore. It was also forced to close down 92 offices in West Pakistan which held 40% of its total deposits. On March 31, 1947 it transferred its registered office to India and established a new head office in New Delhi. Thereafter it acquired a number of Banks including the Bharat Bank, the Universal Bank of India, the Hindustan Commercial bank, the New Bank of India and the Nedungadi Bank.

PNB has overseas representative offices in London, Shanghai, Dubai, Sydney and Oslo. Its overseas branches include those in Hong Kong, Dubai and Kabul. In 2006 PNB established the Punjab National Bank(International) in the UK with offices in London and Southall. Four years later in January 2010, it established a subsidiary in Bhutan.

In its 120 years of existence the PNB has been successful in establishing 6081 total branches including 5 foreign branches and 6940 ATMs as on March 2014. This bank also has a large customer base f 8.9 crore esteemed customers. It has won many laurels and accolades for its superior performance and bagged many awards for Vigilance excellence, CSR Excellence, Financial Inclusion initiatives, Risk management and Security initiatives and Agriculture Credit and Inclusion.

 

Total Assets (in $ billion): 96.31