PNB Full Form | Full Form of PNB

PNB Full Form - Punjab National Bank

 Punjab National Bank

Punjab National Bank

  • The full form of PNB is Punjab national bank. It's one among India’s reputed public sector banks that commenced its services in Lahore on 12 April 1895.
  • It had been the primary bank that, during British era, was entirely controlled by the Indian people with Indian wealth. Its head office is located in New Delhi, India.
  • The bank has almost 180 million customers, 10,910 branches and 13,000 + ATMs, starting from 1 April 2020, after the merger with the United Bank of India & Oriental Bank of Commerce.
  • It offers a full range of monetary products & services, including corporate, personal, foreign and capital services, in various categories.

International PNB branches

  • With seven branches, PNB features a banking subsidiary within the UK, which is PNB International Bank.
  • PNB owns branches in Kowloon, Hong Kong, Dubai & Kabul.
  • It has representative offices in Kazakhstan (Almaty), the United Arab Emirates (Dubai), China (Shanghai), Norway (Oslo) and Australia (Sydney).
  • PNB holds 51% of Druk PNB Bank in Bhutan, which has five branches.
  • PNB holds 20% of Everest Bank Limited in Nepal, which has 50 branches.
  • In Kazakhstan, PNB holds 41.64% of JSC (SB) PNB Bank, four branches.

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 within the 1963 Ragoon branch.
  • In 1965, after the Indo-Pak War. Pakistan’s governament has confiscated Indian banks’ offices based in Pakistan, like the PNB headquarters.
  • In 1969, on 19 July, the govt 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 percent stake in Metlife in 2011.

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