Punjab National Bank share price: Ventura Securities initiates coverage with a BUY for a price target of Rs 54
Punjab National Bank, post its merger with the two banks – United Bank of India and Oriental Bank of Commerce in 2020 - is today positioned as India’s 2nd largest PSU bank and overall, 3rd largest in terms of total credit. The bank is in the midst of raising its 2nd tranche of funds (Rs.2,000 – 3,000 cr) to beef up its capital base. Recently, it completed an integration program to onboard the merged entities onto a single platform.
This growth is expected to be fuelled by the faster growth of its RAMs (retail, agri and MSME) portfolio in Punjan National Bank, whose contribution is expected to improve by 1060bps to 60% by FY23 (over FY20): Reuters