Tag: punjab national bank

Housing FinanceLatest Stories

PNB Housing Finance Selects Four Candidates for CEO Role

MUMBAI: PNB Housing Finance, the third-largest housing finance company in India, has shortlisted four candidates for the role of managing director and CEO. Ajai Shukla, chief business officer at Tata Capital Housing Finance, is reportedly the leading candidate, according to sources familiar with the situation. The other contenders include Jatul Anand, executive director at PNB Housing Finance; Sachinder Bhinder, MD & CEO of Aavas Financiers; and Rajan Suri, chief business officer at Aditya Birla Housing Finance. These names have been submitted to the Reserve Bank of India (RBI) and the National Housing Bank (NHB) for consideration, as regulatory approval is…

Housing FinanceLatest Stories

SBI Raises Home Loan Rates by 25 Basis Points: A Signal?

MUMBAI: India’s largest mortgage lender, State Bank of India (SBI), has raised home loan rates by 25 basis points for new borrowers, indicating a potential shift towards higher interest rates in the housing market. This increase mainly impacts applicants with lower credit scores, as SBI adjusts the upper band of its loan rates. Union Bank of India has also raised its rates, and other public sector lenders may follow. As of late July, SBI’s mortgage rates were between 7.5% and 8.45%. Post-adjustment, new borrowers will face rates between 7.5% and 8.70%. Union Bank of India has upped its rate to…

Housing FinanceLatest Stories

PNB Housing Finance Q1 FY26 Net Profit Up 23% to ₹534 Crore

NEW DELHI: PNB Housing Finance announced a 23% increase in its net profit for the first quarter ending June 2025, reaching Rs 534 crore, compared to Rs 433 crore in the same period last year. The company’s total income rose to Rs 2,082 crore from Rs 1,832 crore during the corresponding quarter of the previous financial year, as stated in a regulatory filing. Interest income for the quarter increased to Rs 1,980 crore, up from Rs 1,739 crore a year ago. The net interest income also saw a 17% rise, totaling Rs 760 crore by the end of Q1 2025,…

Housing FinanceLatest Stories

Carlyle Plans to Sell Remaining Stake in PNB Housing

MUMBAI: Carlyle Group, a US-based private equity firm, is planning to divest its remaining stake in PNB Housing Finance through a block trade valued at $308 million (₹2,604 crore) set for Friday, as outlined in a term sheet from IIFL Capital. The sale will be conducted through Quality Investment Holdings, a Carlyle affiliate, which is putting up its full holding of 27.1 million shares, constituting a 10.44% stake in the mortgage company. The established floor price for this transaction is ₹960 per share, reflecting a 5% discount to PNB Housing’s April 30 closing price of ₹1,010.20 on the National Stock…