PNB Full Form | Full Form of PNB
PNB Full Form - 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.