What is the full form of PNB?

The full form of PNB is Punjab National Bank. One of India’s well-known public sector banks, it started operations in Lahore on April 12, 1895. It was the first bank that was totally run by Indians with Indian riches during the British rule. New Delhi, India, is home to the company’s headquarters.

After merging with the United Bank of India and Oriental Bank of Commerce, the bank will have around 180 million customers, 10,910 branches, and 13,000 or more ATMs as of 1 April 2020. It provides a broad variety of financial goods and services in numerous areas, including corporate, personal, foreign, and capital services.

International PNB branches

• PNB International Bank, which has seven locations, is a banking affiliate of PNB with operations in the UK.
• PNB has locations in Kabul, Kowloon, Hong Kong, and Dubai.
• It maintains representational offices in Kazakhstan (Almaty), Australia, China, the United Arab Emirates (Dubai), and Norway (Oslo) (Sydney).
• PNB owns 51% of the five-branch Druk PNB Bank in Bhutan.
• PNB owns 20% of the 50-branch Everest Bank Limited in Nepal.
• PNB owns 41.64% of the four branches of JSC (SB) PNB Bank in Kazakhstan.

A brief history of PNB

• Under the Indian Companies Act in Lahore, PNB was established on 19 May 1984.
• It was established by Lala Lajpat Rai, Lala Harkishan Lal, Dyal Singh Majithia, Shri E.C. Jessawala, Shri Kali Prasanna Roy, Shri Prabhu Dayal & the leaders of the Swadeshi movement.
• In her early days, Lala Lajpat Rai was deeply concerned with managing the bank.
• It started its operation in Lahore on 12 April 1895 &, in 1904, established branches in Karachi & Peshawar.
• PNB purchased Bhagwan Dass Bank Limited in 1939 & acquired the Universal Bank of India in 1961.
• The government of Burma nationalizes the PNB in the 1963 Ragoon branch.
• In 1965, after the Indo-Pak War. Pakistan’s government has confiscated Indian banks’ offices based in Pakistan, such as the PNB headquarters.
• In 1969, on 19 July, the Government of India nationalized PNB.
• PNB opened its first branch in London in 1978.
• In 1988, Hindustan Commercial Bank Limited was acquired by PNB.
• In 1993, the New Bank of India was purchased and nationalized by the Indian government In 1980.
• In 1998, the PNB opened a registered office in Kazakhstan’s Almaty.
• In 2003, Nedungadi Bank Ltd., situated in Kozhikode, was purchased by PNB. Many of this bank’s branches are now operating as PNB branches.
• PNB opened a branch in Uttarakhand in 2006 and linked up with Indian Airlines to book flight tickets online.
• PNB entered into an Internet trading partnership arrangement in 2008 with NSBL (Networth Stock Broking Ltd).
• It purchased a 33 per cent stake in Metlife in 2011.