Second largest public sector bank, Punjab National Bank was founded in May, 1894. Its office was established in Anarkali Bazaar, Lahore.
It was founded by Lala Lajpat Rai with a mission to create a Swadeshi bank and is the only bank to be started with Indian capital and was being managed by Indians only. It started operations with working capital of Rs.20,000 and an authorized capital of Rs.2 lakhs.
It was also nationalized by the Government of India in 1969. Punjab National Bank has 4900 offices.
It has offices and branches in 9 countries. Total number of branches are 6300. It has network in 764 cities with more than 9500 ATMs. It has a customer base of 80 million people. More than 62000 people are employed by Punjab National Bank. It is headquartered in Delhi. Usha Ananthasubramanian serves as the Managing Director and Chief Executive of the bank.
Punjab National Bank had a revenue of Rs. 47424.35 crore in latest financial year (2015-16). Its loss stood at Rs. 3974.39 crore. This huge loss is attributed to bad loans. Gross Non-performing assets ratio of the bank is at 10%. It has total market capitalization of Rs. 15158.99 crore. The bank set a target to recover Rs. 15000-20000 crore from stressed assets. For sale to asset reconstruction companies (ARCs), Punjab National Bank identified 53 corporate non-performing loans eoth Rs. 6300 crore. Punjab National Bank received award for ‘Best Risk Management Initiatives 2015’ by IBA. Agriculture TOday Group awarded the bank with ‘Agriculture Leadership Award 2015’.