Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Punjab National Bank    PNB   INE160A01022

PUNJAB NATIONAL BANK (PNB)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Punjab National Bank : Fraud-hit Punjab National Bank rapped for not making timely regulatory disclosures

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/17/2018 | 05:22pm CEST

MUMBAI: India's state-owned Punjab National Bank (PNB) has received a warning letter from the country's markets regulator for failing to make timely disclosures to the stock exchanges about a sprawling $2 billion fraud.

The compliance and monitoring arm of the Securities and Exchange Board of India (SEBI), in a letter on May 15, noted delays of one to six days on the part of the lender in making disclosures about the fraud, PNB said in a securities filing on Thursday.

PNB, India's second-largest state-run bank, said in February two jewellery groups had defrauded it of more than $2 billion by raising credit from overseas branches of other Indian banks via illegal guarantees issued by rogue PNB staff over several years.

The bank had initially said it had been defrauded of only 2.8 billion rupees, or about $41.3 million, before going on to disclose what has become the largest ever loan fraud case in Indian banking history.

PNB had filed a police complaint about the fraud on Jan. 29, but disclosed the matter to the regulator only on Feb. 5. Its shares fell more than 10 percent between that period.

In its letter, the securities regulator said it viewed the non-compliance "seriously" and warned PNB to be "cautious in future to ensure compliance".

(c) 2018, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PUNJAB NATIONAL BANK
08/14ALLAHABAD BANK : Government sacks former Allahabad Bank MD Usha Anantasubramania..
AQ
08/14ALLAHABAD BANK : Usha ananthasubramanian dismissed as md & ceo of allahabad bank
AQ
08/13PNB SCAM : Centre dismisses former MD Usha Ananthasubramanian from service
AQ
08/10PUNJAB NATIONAL BANK : Three years on, CID files charge sheet against Mehul Chok..
AQ
08/09PUNJAB NATIONAL BANK : PNB TO RAISE Rs8,600 CRORE THROUGH ASSET SALE IN FY19
AQ
08/09PUNJAB NATIONAL BANK : PSBs SEE A SOUND RECOVERY FROM BAD LOANS
AQ
08/09Cash recovery
AQ
08/09PUNJAB NATIONAL BANK : India post payments bank ties up with pnb, bajaj allianz ..
AQ
08/09Us investors sues government over uti
AQ
08/08PUNJAB NATIONAL BANK : Banks lost Rs 32,048 crore to frauds in 2017-18
AQ
More news
Financials (INR)
Sales 2019 255 B
EBIT 2019 90 157 M
Net income 2019 -42 102 M
Debt 2019 -
Yield 2019 2,28%
P/E ratio 2019 -
P/E ratio 2020 8,38
Capi. / Sales 2019 0,90x
Capi. / Sales 2020 0,85x
Capitalization 230 B
Chart PUNJAB NATIONAL BANK
Duration : Period :
Punjab National Bank Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PUNJAB NATIONAL BANK
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 105  INR
Spread / Average Target 26%
EPS Revisions
Managers
NameTitle
Sunil Mehta Chief Executive Officer, Director & MD
Sunil Mehta Non-Executive Chairman
P. K. Sharma Chief Financial Officer & General Manager
Kunche Veeraj Brahmaji Rao Executive Director
Sudhir Nayar Director
Sector and Competitors
1st jan.Capitalization (M$)
PUNJAB NATIONAL BANK-51.36%3 298
JP MORGAN CHASE & COMPANY7.32%385 729
BANK OF AMERICA4.07%307 039
WELLS FARGO-2.98%283 478
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-15.16%268 501
CHINA CONSTRUCTION BANK CORPORATION-15.10%232 379