Full Form of PNB, What is Punjab National Bank

Punjab National Bank (PNB) is one of India’s largest public sector banks. It commenced its services in 1895 in Lahore and was the first bank during the British era that was controlled by the Indians.

Its head office lies in New Delhi, India, and today it has more than 180 million customers. With over 10,000 branches and 13,000 ATMs, it is spread out across the country to allow easy banking.

On April 1, 2020, the bank merged with the United Bank of India and the Oriental Commerce Bank and now offers a wide range of banking and financial solutions, such as financial products and services, capital services, online and internet banking, loans, debit and credit cards, and so on.

A Synopsis of Punjab National Bank

• Punjab National Bank was established in 1984, under the Indian Companies Act in Lahore.
• Lala Lajpat Rai, Dyal Singh Majithia, Lala Harikrishan Lal, and Shri E.C. Jessawala Shri Kali Prasanna Roy and the leaders of the Swadeshi movement established the bank.
• Earlier, Lala Lajpat Rai was concerned with managing the bank.
• In 1939, Punjab National Bank purchased Bhagwan Dass Bank Ltd. and acquired the Universal Bank of India in 1961.
• On July 19, 1969, Punjab National Bank was nationalized by the Government of India.
• In 1978, Punjab National Bank opened its first branch.
• Punjab National Bank acquired Hindustan Commercial Bank Ltd. in 1988.
• Punjab National Bank opened and registered an office in Kazakhstan’s Almaty in 1998.
• In 2006, the bank opened a branch in Uttarakhand and linked up with Indian Airlines to make online ticket booking more accessible.
• In 2008, PNB entered a trading partnership with Networth Stock Broking Limited (NSBL).
• In 2011, Punjab National Bank bought a 33 percent stake in Metlife.

International Branches of the Punjab National Bank

While it is very common to find a PNB branch in every nook and cranny in India, what you might not know is that it also has international branches.

These are the following:

• Punjab National Bank has branches in Dubai, Kabul, Kowloon, and Hong Kong.
• It has seven branches and banking subsidiaries in the UK.
• Punjab National Bank holds 41.64% of the JSC PNB bank.
• It also holds 20% of Everest Bank Ltd. in Nepal.
• Moreover, Punjab National Bank has 51% of the shares in the Druk PNB Bank in Bhutan.
• Lastly, it has offices in the UAE, China, Norway, Australia, and Kazakhstan.

Products and Services of Punjab National Bank

Let us take a look at some of the products and services that Punjab National Bank has to offer. 

This is just an overview. You can find the details of each service on their official website.

Just like other banks, Punjab National Bank also offers a plethora of services to cater to their customers in India and abroad. The services are exemplary, and the customer care and service provided are also excellent.

Moreover, there are several schemes that the bank provides for retirement, tax benefits, savings, and so on. You can check out the details on their website to learn more about them.

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