PNB schedules board meeting to consider fund raising

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Punjab National Bank (PNB) after market hours on Friday informed that the bank’s board will meet on 10 September 2021 to consider the proposal for raising of capital.

Shares of PNB were trading 0.79% higher at Rs 38.35 on BSE.

In a regulatory filing to stock exchanges, PNB said that a meeting of the board of directors of the bank has been re-scheduled on Friday, 10 September 2021 for considering the proposal for raising of capital through issuance of Basel-III Compliant additional tier-1 Bonds and/or tier-II bonds or combination thereof, in one or more tranches.

Punjab National Bank is a public sector bank. As on 30 June 2021, the bank has 10,641 number of branches. The government of India held 73.15% stake in the bank as on 30 June 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 06 2021. 09:14 IST