Punjab National Bank

Infobox Company
company_name = Punjab National Bank
company_
company_slogan = ...the name you can BANK upon
company_type = Public (BSE, NSE:PNB)
foundation = )
location =
key_people = Chairman and M.D. Dr. K.C. Chakrabarty
industry = Banking
Insurance
Capital Markets and allied industries
products = Loans, Credit Cards, Savings, Investment vehicles, Insurance etc.
revenue = 2.32 billion (2005)
employees = 58,300
homepage = [http://www.pnbindia.com/ www.PNBIndia.com]

Punjab National Bank (PNB), was registered on May 19, 1894 under the Indian Companies Act with its office in Anarkali Bazaar Lahore. The Bank, founded by Dyal Singh Majithia and Lala Harkishen Lal, [Chapter "The Nations Bankers", Madan Gopal ISBN 81-230-0119-3] is the second largest government-owned commercial bank in India with about 4,500 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by Bankers Almanac, London. Total Business of the bank for financial year 2007 is estimated to be approximately US$60 billion. It has a banking subsidiary in the UK, as well as branches in Hong Kong and Kabul, and representative offices in Almaty, Shanghai, and Dubai.

History

Punjab National Bank (PNB) was established in 1895 at Lahore. PNB has the distinction of being the first Indian bank to have been started solely with Indian capital. In 1969, Punjab National Bank was nationalized along with 13 other banks.

*1895: PNB established in Lahore.
*1904: PNB established branches in Karachi and Peshawar.
*1939: PNB acquired Bhagwandas Bank.
*1947: Partition of India and Pakistan at Independence. PNB lost its premises in Lahore, but continued to operate in Pakistan.
*1961: PNB acquired Universal Bank of India.
*1963: The Government of Burma nationalized PNB's branch in Rangoon (Yangon).
*September 1965: After the Indo-Pak war the government of Pakistan seized all the offices in Pakistan of Indian banks, including PNB's headoffice, which may have moved to Karachi. PNB also had one or more branches in East Pakistan (Bangladesh).
*1960s: PNB amalgamated Indo Commercial Bank (est. 1933) in a rescue.
*1969: The Government of India (GOI) nationalized PNB and 13 other major commercial banks, on July 19, 1969.
*1976 or 1978: PNB opened a branch in London.
*1986 The Reserve Bank of India required PNB to transfer its London branch to State Bank of India after the branch was involved in a fraud scandal.
*1986: PNB acquired Hindustan Commercial Bank in a rescue.
*1993: PNB acquired New Bank of India, which the GOI had nationalized in 1980.
*1998: PNB set up a representative office in Almaty, Kazakhstan.
*2003: PNB took over Nedungadi Bank, the oldest private sector bank in Kerala. Rao Bahadur T.M. Appu Nedungadi, author of Kundalatha, one of the earliest novels in Malayalam, had established the bank in 1899. It was incorporated in 1913, and in 1965 had acquired selected assets and deposits of the Coimbatore National Bank. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares. PNB also opnened a representative office in London.
*2004: PNB established a branch in Kabul, Afghanistan. PNB also opened a representative office in Shanghai.
*2005: PNB opened a representative office in Dubai.
*2007: PNB established PNBIL - Punjab National Bank (International) - in the UK, with two offices, one in London, and one in South Hall, Middlesex.
*2008: PNB opened a branch in Hong Kong.

Chairmen of Punjab National Bank

K.C. Chakrabarty (2007-Present)

S C Gupta (2005–2007)

S S Kohli (2000-05)

Rashid Jilani (1990–2000)

Jagdish Sharan Varshney (1985-90)

Sudarshan Lal Baluja(1981-85)

Shyam Lal Chopra(1980-81)

Om Parkash Gupta(1977-80)

Tirath Ram Tuli(1975-77)

Parkash Lal Tandon(1972-750

Somesh Chander Trikha(1968-72)

Kamal Nayan Bajaj(1964-67)

Ram Nath Goenka(1960-64)

Seth Shanti Parkash Jain(1954-59)

Shriyansh Parshad Jain(1953-54)

Lala Yodh Raj(1943-53)

Rai Bahadur Diwan Badri Dass(1938-42)

Dr. Maharaj Krishana Kapoor(1931-37)

Lala Dhanpat Rai(1912-31)

Dr. Hira Lal Bhatia(1917-20)

Bhagat Ishwar Dass(1905-10,1913-15)

Rai Bhadur Lala Sukddyal(1912-)Lala

Rai Bahadur Lala Lal Chand(1898-1905, 1911-12)

Sardar Dyal Singh Majithia(1895-98), the Founder Chairman

PNB's Financial Numbers

*Sales $2.32 bil
*Profits $.28 bil
*Assets $24.12 bil
*Market Value $2.79 bil
*Employees 58,300

Forbes Global 2000 Ranking

Punjab National Bank was ranked at 1243 in the Forbes Global 2000 [ [http://www.forbes.com/lists/2006/18/06f2000_The-Forbes-2000_Counrty_5.html The Forbes 2000 - Forbes.com ] ] .

External links

* [http://www.pnbindia.com/ Official site]

References

reflistBanking Century by Parkash Tandon (Panguin Books)