PNB seeks up to $1.5 billion via GIFT City bonds
Business
Punjab National Bank (PNB) is gearing up to raise up to $1.5 billion by issuing foreign-currency bonds from its unit at GIFT City, Gujarat.
PNB aims over ₹20,000 cr profit
PNB has big growth plans, aiming for over ₹20,000 crore profit by FY27, up from ₹16,904 crore in the previous financial year.
It is focusing on lending to retail customers, farmers, small businesses, and self-help groups while expecting solid loan and deposit growth this year.
Plus, PNB will soon start financing company acquisitions under new Reserve Bank of India rules that let banks cover up to 75% of deal values, a step meant to diversify its business even more.