Punjab National Bank (PNB) — Announcement | 6 June 2025(3 announcements)

Punjab National Bank disclosed that Jatinder Singh Bajaj, a shareholder director appointed under SEBI's fit-and-proper norms, resigned effective June 6, 2025, following SEBI's disqualification of Life Insurance Corporation employees from serving as shareholder directors on PSB boards. The resignation stems from regulatory restrictions preventing his continued board membership.

Punjab National Bank reported a 32% year-on-year increase in net profit to ₹87.22 crores for Q4FY25, driven by improved treasury income and lower provisions, while total income rose 15% to ₹1,245.67 crores on higher interest and fee-based income; the board also approved a ₹500 crore share buyback to enhance shareholder value amid stable asset quality and moderating credit costs.

Punjab National Bank announced a reduction in its Repo Linked Lending Rate from 8.85% to 8.35% effective 09.06.2025 following the RBI's 25 basis point repo rate cut, while maintaining unchanged MCLR and Base Rates. This adjustment lowers borrowing costs for customers linked to RLLR but does not impact existing loan pricing for most retail and corporate borrowers. The move reflects the bank's responsiveness to monetary policy easing and aims to support credit growth amid stable deposit and asset quality metrics.