PNB Board to mull fund raising for next fiscal on 29 Mar

22 Mar 2022 , 11:09 AM

In an exchange filing on Monday, PNB said, ?a meeting of the board of directors of the bank is scheduled on Tuesday, 29 March, 2022 for considering the proposal for raising of capital through issuance of Basel-III compliant Additional Tier-1 Bonds and/or Tier-2 Bonds or combination thereof, in one or more tranches for FY 2022-23.?

The public sector bank has not yet provided details on how much capital it is planning to raise via debt in 2022-23.

PNB is a public sector bank. It had a domestic branch network of 10,528 branches, two international branches and 13,506 automated teller machines as of September 2021. The Government of India held 73.15% stake in the bank as on 30 September 2021.

The bank reported a 122% jump in standalone net profit to Rs 1,126.78 crore on a 4.4% fall in total income to Rs 22,026.02 crore in Q3 FY22 over Q3 FY21.

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