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Punjab National Bank to sell stake in housing finance firm, other units

The sale of Punjab National Bank’s 13 per cent stake in PNB Housing Finance is credit positive as it will strengthen the bank’s capital, Moody’s said Monday. Last month state-run Punjab National.

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Punjab National Bank (PNB) is selling a part of its stake in PNB Housing Finance Ltd to global private equity firm General Atlantic Group and alternative investment firm Varde Partners for Rs 1,851.6 crore. The public sector bank on Friday announced it has entered.

After staging a turnaround in the third quarter, Punjab National Bank. to what would be the bank’s approach towards PNB Housing Finance, Mehta said that PNB was undecided on whether to go in for.

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PNB fraud case crackdown: Punjab National Bank (PNB) fraud case, allegedly involving Rs 12,700 crore, took a new turn today as the Serious Fraud investigation office (sfio) summoned icici Bank MD & CEO Chanda Kochhar and Axis Bank MD Shikha Sharma, reported zee business channel.

PNB to sell stake in housing finance firm, other units. PNB Housing Finance is one of the main subsidiaries of PNB engaged in the business of providing housing and construction loans. The lender had a stake of 32.96 per cent in the subsidiary on March 31, 2018. In credit rating agency CRISIL, financial institutions and banks had a collective stake.

New Delhi, Jun 8 Punjab National Bank said today that it will divest stake in its subsidiary PNB Housing Finance and other entities like BSE, ICRA and Crisil depending on market conditions.

PNB signals recovery, eyes profit Punjab National Bank (PNB), which recently reported a huge loss, is aiming to clock profit in the July-August this year, reports Business Standard. Carlyle to sell.

New Delhi: Punjab National Bank has sold its entire stake in ratings firm icra Ltd for a consideration of Rs 109 crore. "The bank has sold its entire stake of 3,30,000 shares of ICRA Ltd through block deal at exchange platform for gross sale consideration of Rs 108.60 crore on June 28, 2018," the bank said in a regulatory filing.

Punjab National Bank (PNB) is selling a part of its stake in PNB Housing Finance Ltd to global private equity firm General Atlantic Group and. per cent to Rs 303 crore from Rs 229.5 crore. On the.