16-11-2012, 01:20 PM
Punjab national bank
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INTRODUCTION OF PNB:
Punjab national bank is the third largest bank in India. it was registered on may 19, 1894 under the Indian companies act with its office in Anarkali bazaar Lahore. Today, the bank is the second largest state owned commercial bank in India with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the 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, Dubai and Kabul, and representative offices in Almaty, Dubai, Oslo, and Shanghai.
Punjab national bank is one of the big four banks of India, along with ICICI bank, state bank of India and Canara bank
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,[2] 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.
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).
1960s: PNB amalgamated indo commercial bank (est. 1933) in a rescue.
1969: The government of India (GOI) nationalized PNB and 13 other major commercial banks, on July 19, 1
ACHIEVEMENTS
• Punjab National Bank announced its Q1FY2010 results on 29 July 2009, delivering 62% y-o-y growth in net profits to Rs832 crore (Rs512cr), substantially ahead of expectations on account of large treasury gains, apart from healthy operating performance.
• While the bank’s deposit growth was reasonably robust at 4.4% sequentially and 26.5% y-o-y, unlike the peers its growth in advances also remained strong at 38% y-o-y.
• Other Income surged 113% y-o-y, driven by strong treasury gains of Rs355 crore during the quarter in line with industry trends, even as Fee income was also robust at 45% y-o-y, on the back of strong balance sheet growth.
• Operating expenses were higher than expected on account of Rs150 crore of provisions for imminent wage hikes.
• Gross and Net NPA ratios remained stable sequentially at 1.8% and 0.2%, with the bank not adopting the guidelines of treating floating provisions as part of tier 2 capital instead of adjusting against NPAs on express permission from the RBI
AWARDS AND DISTINCTIONS
• Ranked among top 50 companies by the leading financial daily, Economic Times.
• Ranked as 323rd biggest bank in the world by Bankers Almanac (January 2006), London.
• Earned 9th place among India's Most Trusted top 50 service brands in Economic Times- A.C Nielson Survey.
• Included in the top 1000 banks in the world according to The Banker, London.
• Golden Peacock Award for Excellence in Corporate Governance - 2005 by Institute of Directors.
• FICCI's Rural Development Award for Excellence in Rural Development – 2005
CONCLUSIONS AND SUGGESTIONS:
With regard to banking products and services, consumers respond at different rates, depending on the consumer’s characteristics. Hence I PNB should try to bring their new product and services to the attention of potential early adopters.
• Due to the intense competition in the financial market, PNB should adopt better strategies to attract more customers.
• Return on investment company reputation and premium outflow are most preferred attributes that are expected by the respondents. Hence greater focus should be given to these attributes.
• PNB should adopt effective promotional strategies to increase the awareness level among the consumers.
• PNB should ask for their consumer feedback to know whether the consumers are really satisfied or dissatisfied with the service and product of the bank. If they are dissatisfied, then the reasons for dissatisfaction should be found out and should be corrected in future.
• The PNB brand name has earned a lot of goodwill and enjoys high brand equity. As there is intense competition, PNB should work hard to maintain its position and offer better service and products to consumers.
• The bank should try to increase the Brand image through performance and service then, only the customers will be satisfied.
• Majority of the people find banking important in their life, so PNB should employ the strategies to convert the want in to need which will enrich their business.