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BANK's PROFILE & HISTORY VISION “To Be a Leading Global Bank With

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BANK’S PROFILE & HISTORY VISION “To be a Leading Global Bank with Pan India footprints and become a household brand in the Indo-Gangetic Plains, providing entire range of financial products and services under one roof.” MISSION “Banking for the unbanked” Punjab National Bank (PNB), was registered on May 19, 1894 under the Indian Companies Act with its office in Anarkali Bazaar, Lahore. The Bank 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. The bank's total assets for financial year 2007 were about US$60 billion. PNB 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 1895: PNB commenced its operations in Lahore. PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present. (The first entirely Indian bank, the Oudh Commercial Bank, was established in 1881 in Faizabad, but failed in 1958.) PNB's founders included several leaders of the Swadeshi movement such as Dyal Singh Majithia and Lala HarKishen Lal, Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was actively associated with the management of the Bank in its early years. 1904: PNB established branches in Karachi and Peshawar. 1940: PNB absorbed Bhagwan Dass Bank, a scheduled bank located in Delhi circle. 1947: Partition of India and Pakistan at Independence. PNB lost its premises in Lahore, but continued to operate in Pakistan. 1951: PNB acquired the 39 branches of Bharat Bank (est. 1942), Bharat Bank became Bharat Nidhi Ltd. 1960s: PNB amalgamated Indo Commercial Bank (est. 1933) in a rescue. 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). 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. 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 opened a representative office in London. 2004: PNB established a branch in Kabul, Afghanistan. PNB also opened a representative office in Shanghai. PNB established an alliance with Everest Bank in Nepal that permits migrants to transfer funds easily between India and Everest Bank's 12 branches in Nepal. 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. Since then it has opened a third branch in Leicester, and is planning a fourth in Birmingham. 2008: PNB opened a branch in Hong Kong. Chairmen of Punjab National Bank : 1895-1898 Sardar Dyal Singh Majithia 1898-1905 Rai Bahadur Lala Lal Chand 1905-1910 Bhagat Ishwar Dass 1911-1912 Rai Bahadur Lala Lal Chand 1912-1913 Rai Bhadur Lala Sukddyal 1913-1915 Bhagat Ishwar Dass 1917-1920 Dr. Hira Lal Bhatia 1920-1931 Lala Dhanpat Rai 1931-1937 Dr. Maharaj Krishana Kapoor 1938-1942 Rai Bahadur Diwan Badri Dass 1943-1953 Lala Yodh Raj 1953-1954 Shriyansh Parshad Jain 1954-1959 Seth Shanti Parkash Jain 1960-1964 Ram Nath Goenka 1964-1967 Kamal Nayan Bajaj 1968-1972 Somesh Chander Trikha 1972-1975 Parkash Lal Tandon 1975- 1977 Tirath Ram Tuli 1977-1980 Om Parkash Gupta 1980-1981 Syam Lal Chopra 1981-1985 Sudarshan Lal Baluja 1985-1990 Jagdish Sharan Varshney 1990-2000 Rashid Jilani 2000-2005 Surinder Singh Kohli 2005-2007 Satwant Chand Gupta 2007- 2009 Dr. K.C. Chakrabarty 2009- K. R. Kamath Acquisitions by PNB 1939: PNB acquired Bhagwandas Bank 1951: PNB acquired the 39 branches of Bharat Bank. 1961: PNB acquired Universal Bank of India 1960s: PNB amalgamated Indo Commercial Bank 1986: PNB acquired Hindustan Commercial Bank 1993: PNB acquired New Bank of India 2003: PNB took over Nedungadi Bank, the oldest private sector bank in Kerala PERFORMANCE DURING THE LAST 5 YEARS The Bank’s performance in the last 5 years has been impressive in all major parameters with business doubling to reach Rs. 286000 crore in 2007-08. The Bank’s average growth in major parameters and achievement in the last 5 years is given below: PARAMETERS Mar, 04 Mar, 05 Mar, 06 Mar, 07 Mar, 08 Dec, 08 Total Deposit 87916 103167 119685 139860 166457 197069 Total Advances 47224 60413 74627 96597 119502 141659 Operating Profit 3121 2404 2917 3617 4006 4156 Net Profit 1109 1410 1439 1540 2049 2225 Interest Income 7780 8460 9337 11236 14265 14083 Non - Interest Income 1867 1676 1521 1730 1998 2064 Gross NPA 4670 3741 3138 3391 3319 3264 Net NPA 449 119 210 726 754 552 Gross NPA (%) 9.35 5.96 4.10 3.45 2.74 2.28 Net NPA (%) 0.98 0.20 0.29 0.76 0.64 0.39 Cost of Deposits (%) 5.01 4.43 4.32 4.53 5.59 6.26 Yield of Advances (%) 9.08 8.10 8.31 9.17 10.36 11.51 Business Per employee 2.28 2.77 3.31 4.07 5.05 6.06 Profit Per Employee (in lac) 1.88 2.42 2.48 2.68 3.66 5.38 Return on Assets (%) 0.92 1.17 1.09 1.03 1.15 1.37 Recent Initiatives Taken by the Bank in brief The Bank in the recent past has moved away from a hybrid 4 tier to a 3 tier structure with a nomenclature of Circle Offices for the intermediate tier. The objective was to have a cost effective delayered structure to expedite decision making at all levels. Having taken aggressive IT initiatives, 100% CBS enabled Bank to centralize many activities thereby increasing the efficiency and productivity across the Bank. The activities are being centralized to transform the branches as points of sales for customer acquisitions, customer retention and better customer service. Bank proposes to set up one lac touch point to realize the target of 15 crore customers and 10 lac crore business figures by extensive deployment of technology. We expect to increase our branch network to 5000, Number of ATMs to 8000. The bank will engage 12,000 Business correspondents for existing branches; four such BCs will be attached to one branch (25000 touch points). Bank will set up 15,000 kiosks in branchless location with CBS and internet facility each kiosk will have four business correspondent attached to it (75,000 touch points). To further improve the customer service alternate delivery channels like ATMs and Internet banking are promoted and are enabled for Transfer of funds, bill payments, ticket booking, tax payment and donations to charitable organizations. E-bays have been set up for faster customer service. The Bank has been giving greater thrust towards Financial Inclusion, SME Business and Agriculture lending. The Bank has achieved 100% Financial Inclusion in 11,043 villages. The Bank is gearing up for Metro/Urban Financial Inclusion in a big way and is committed to cover unbanked rural & urban areas under its commitment to Financial Inclusion, both at geographical and functional levels. Rajasthan Govt. Financial Inclusion project has brought in more than 25 lakhs customers in our fold. Several other Special Schemes have been launched for BPL Customers including a Micro Finance Branch in Mukundpur, Delhi; 9 Financial Literacy & Education Counselling Centres in Punjab & Haryana; Scheme for Rickshaw Pullers launched at Varanasi, Allahabad, Lucknow & Patna; Common Service Centre at Village Panapur Bihar. For Agriculture Sector we have introduced PNB Krishak Saathi Scheme, increased limit of loans without collateral to 1 lakh and introduced several other facilities to promote rural development. New products have been launched like MIBOR linked deposit schemes, Depository services, Gold Coin business; CMS, Score Based Lending Schemes, Centralization of backend activities etc. For faster processing of retail loans, separate Retail Processing Hubs have been set-up at centralized locations. Facility of submission of online application for Car, Education, Personal & Pension Loans is provided. Towards the objective of having a larger international presence, a subsidiary at UK has been made operational. A new branch of PNB – IL has been made functional in Leicester, besides the existing two branches. The Bank also has a branch at Kabul; an Off-Shore Banking Unit at Mumbai; a new branch at Hongkong and Representative Offices at Dubai, Kazakhstan, Shanghai & Norway. The Bank has joint venture in Nepal with Everest Bank Limited. We are having arrangements with various exchange houses abroad. The technology solutions for all the overseas operations of the bank are provided from India, thereby ensuring cost effective services to the overseas clients.
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