Punjab National Bank (PNB) has recognized various assets, including its housing finance arm, for sale and hopes to realise Rs 8,600 crore from these non-core assets during the current fiscal. Meanwhile, the bank has already sold some of the fixed assets and have realised Rs 400 crore from these assets.
Besides, the bank also wants to dilute its 4% stake in life insurance joint venture, while few of the fixed assets have already sold out.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.