Public Sector Undertaking Punjab National Bank's total business turnover has crossed 11 lakh as of 4th of January, 2018, reported PTI. The bank reportedly said that it would be focusing on profit-making going forward.
Being the country's second largest public sector lender, it is in line with the rationalisation call by the government, currently processing its branches for the same.
The bank's capital adequacy stands above 9% against the required 8%. It also increased its fixed deposit rates on select maturities by 1.25% on 1st of January.
It has fully waived documentation and processing fee requirement for housing, car and two-wheeler loans as a part of New Year Bonanza Scheme. The offer is available until the end of the current fiscal.
PNB stocks closed 5.97% higher at Rs 176.75 on BSE on 4th of January.