Tuesday, June 13, 2017

PNB's uniqueness

I worked in Punjab National Bank for 21 years. It is not surprising therefore that any news about PNB interests me. It is the only bank in India whose Chairman and CEO (Managing Director) both have the same name: Sunil Mehta. This peculiarity may occur in family-owned companies. This does not seem to be the case in any non-family owned company in India.

The Chairman had earlier worked with Citibank and AIG. The MD came to PNB via Allahabad Bank and Corporation Bank. Placing both of them in the same bank is an interesting experiment.

PNB which was once considered a robust bank has fallen on difficult days. It has skipped dividend for the past two years. It's anybody's guess when its fortunes will revive.

1 comment:

akji said...

If they start doing like the latest one I.e 31/03/2017 balance sheet the Bank will declare dividends very early.