Latest news with #PNB
Free Malaysia Today
4 days ago
- Business
- Free Malaysia Today
PNB pays out RM14.5bil in income and bonus distribution for FY2024
PNB said Amanah Saham Nasional Bhd distributed a record dividend. PETALING JAYA : Permodalan Nasional Bhd (PNB) paid out a total of RM14.5 billion in income and bonus distribution to unitholders for its 18 fixed price funds (FP) and variable price funds (VP) for the financial year ended Dec 31, 2024 (FY2024) against RM13.3 billion in the previous year. In a statement today, the fund management company attributed the strong performance to positive macroeconomic and capital market environment and its continued asset diversification strategy, saying that its net income rose 30.2% to RM16.97 billion from RM13.04 billion. The cumulative income distribution paid out in FY2024 amounted to RM263.7 billion compared with RM249.2 billion in FY2023. PNB said the number of unique account holders and total number of accounts expanded to a record high of 13.1 million and 16.2 million, respectively, while total assets under management (AUM) recovered and have reached RM348.3 billion, up from RM337 billion in 2023. PNB group chairman Raja Arshad Raja Tun Uda said Amanah Saham Nasional Bhd (ASNB) distributed a record dividend, with Amanah Saham Bumiputra (ASB) distributing a total income of 5.75 sen – the highest over the last five years. 'All our 18 FP and VP outperformed their benchmarks, with 11 out of 12 of our VP funds ranked in the top or second quartile among their respective peer groups,' he said in the statement. On the outlook, president and group chief executive Abdul Rahman Ahmad said that given recent geopolitical developments and fundamental shifts in US trade policies, PNB recognises the need to be realistic about the highly uncertain and volatile macroeconomic and capital markets in the year ahead. 'Our focus remains in sustaining the performance of our funds through a continued asset diversification strategy as we fulfil our commitment of delivering consistent, competitive returns to our unitholders,' he said.
Barnama
4 days ago
- Business
- Barnama
PNB Targets 10,000 Volunteer Hours To Foster Culture Of Service
GENERAL KUALA LUMPUR, 27 May (Bernama) -- Permodalan Nasional Bhd (PNB) is aiming to clock 10,000 hours of volunteer work in 2025 through activities such as tree planting, community clean-ups and environmental awareness programmes, in a bid to advance sustainability and social responsibility. PNB Group chief operating officer Muzzaffar Othman said the target reflects the firm's continued commitment to creating positive social impact and strengthening a culture of volunteerism within the organisation. 'More than 500 PNB volunteers from various locations were brought together for the launch of the 2025 PNB Signature Volunteerism Day,' he said in a statement. PNB recorded nearly 2,000 volunteer hours last year, contributed by 370 staff across various initiatives, and is now setting a higher target to build on that momentum, he added. Muzzaffar was speaking at the PNB Signature Volunteerism Day event held recently at the Kuala Selangor Nature Park, a 2,400-acre protected reserve known for its biodiversity and conservation efforts. The programme was held in collaboration with the Malaysian Nature Society, supported by the park, the Selangor State Forestry Department, the Department of Wildlife and National Parks, the Kuala Selangor Municipal Council and the local community. Volunteer activities were also carried out simultaneously at Amanah Saham Nasional Bhd (ASNB) branches in Melaka, Negeri Sembilan (Seremban), Perak (Ipoh), Johor Bahru (Batu Pahat), Pasir Puteh and Kota Bharu in Kelantan, as well as Bintulu, Sarawak. The initiative is part of the group's wider strategy under the PNB Volunteerism Framework, launched in March 2024, which aims to promote inclusive participation and meaningful contribution among staff. PNB has also rolled out a Social Investment Framework (SIF) to support projects in education, health, community development and environmental conservation, in line with its mission to strengthen the financial standing of Malaysians across generations.
Mint
5 days ago
- Business
- Mint
PNB Matritva loan for working women: Interest rates, documents and how to apply
The Punjab National Bank (PNB) has a prominent personal loan scheme known as 'PNB Matritva', this particular scheme is designed for providing financial support to working women during the perinatal period. Furthermore, this initiative is designed to help and assist with expenses related to child-birth and maternity care. It offers a loan amount ranging from ₹ 25,000 to ₹ 3 lakhs. The eligible and aspirational applicants can apply for this scheme and can get the sanction of the proposed variant of personal loan before two months of expected delivery date and up to three months of childbirth. To make sure you meet the eligibility criteria you must be a permanent employee of the central or state government, public sector undertaking (PSU) or of reputable private institutions. It is mandatory for the applicant to have their salary accounts with Punjab National Bank. The loan will be provided only upon proper verification and meeting of the essential eligibility criteria by the aspirational applicant, based on the self declaration confirming pregnancy or childbirth. Note: The eligibility criteria discussed above is illustrative in nature. For the updated terms, conditions applicable on a case to case basis refer to the official website of Punjab National Bank. Visit the official website: Reach out to the official PNB Matritva Loan page on the website of Punjab National Bank. Check and review eligibility: Do check and ensure that you meet the specified eligibility criteria discussed above. Prepare documentation: Gather necessary documents, including identity proof, such as Aadhaar card, PAN card etc., along with employment verification, and a self-declaration of pregnancy or childbirth. Submit the application: Complete the application form available on the website and submit it along with the required documents after properly reading the requirements of the form carefully. Do ask the customer service executive before filling the form if in doubt to avoid complications later. Final approval of loan: The Punjab National Bank will process the application submitted by you. Later on you will get a confirmation of approval by the bank if all the details of the form are accurately filled by you. Post the same the loan amount will be disbursed in your bank account. Loan Amount: The maximum loan that can be given under this scheme is ₹ 25,000 to ₹ 3 lakh. The maximum loan that can be given under this scheme is 25,000 to 3 lakh. Applicable interest rate: The interest rate applicable in this case is Repo Linked Lending Rate (RLLR) + Business Strategy Premium (BSP) + 2.15% i.e., this rate will be 8.85% per annum. For more details on the same refer to the official website of PNB Matritva. The interest rate applicable in this case is Repo Linked Lending Rate (RLLR) + Business Strategy Premium (BSP) + 2.15% i.e., this rate will be 8.85% per annum. For more details on the same refer to the official website of PNB Matritva. Nature of the loan: On a fundamental basis this will be a term loan. On a fundamental basis this will be a term loan. Repayment tenure: Flexible repayment options designed keeping in mind the borrower's financial capacity. The maximum number of equated monthly instalments allowed to pay for this loan are 72. Flexible repayment options designed keeping in mind the borrower's financial capacity. The maximum number of equated monthly instalments allowed to pay for this loan are 72. Processing fee: There are no documentation charges and no upfront fee applicable on availing this loan. Therefore, this scheme aligns with the broader government objective to support maternal health, women empowerment and complementing initiatives such as Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA). The holistic approach is to support women during the most crucial phases of their lives. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
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Business Standard
6 days ago
- Business
- Business Standard
PNB targets ₹16k-cr recovery, aims to keep slippages below 1% in FY26: MD
Punjab National Bank (PNB) is targeting a significant recovery of Rs 16,000 crore and aims to keep slippages below 1 per cent in the current fiscal year to sustain profitability, the top official of the country's second biggest state-owned lender said. The total recovery of the bank stood at Rs 4,733 crore for the fourth quarter and Rs 14,336 crore for FY25 while overall slippages ratio was 0.73 per cent during the last financial year. "Going forward, maximization of recovery and preventing fresh slippages are going to be priority areas. We are targeting a higher total recovery of Rs 16,000 crore as against of recovery of about Rs 14,000 crore in FY' are expecting that the quarterly our slippages will be in the range of around Rs 1,500 crore to Rs 1,700 crore," PNB MD and CEO Ashok Chandra told PTI in an interview. The bank is going to focus on recovery through the technical write off accounts, he said, adding, "I am expecting that Rs 6,000 crore of recovery will happen in the technical right off book. So, we have set up a target of Rs 1,500 crore of minimum recovery every quarter." The technical write off book of the bank stands around Rs 91,000 crore with the provision coverage ratio of more than 96 per cent and recoveries from such accounts are added to the bottomline directly. Chunky assets are no longer there but there are a lot of NPA accounts in the range of Rs 25 crore to Rs 50 crore where recoveries are expected, he added. The bank also plans to expand its RAM (retail, agriculture and MSMEs) sector lending to 58 per cent of its loan book in the current financial year with the help of various initiatives taken, including loan outreach. The bank closed FY25 with loan outstanding under RAM segment at Rs 6,02,682 crore, 56 per cent of the loan book. "We are planning to increase RAM from 56 per cent to 58 per cent in this financial year because that will give me the cushion against loss which is happening due to reduction in the interest rate in the corporate and the RLLR (repo-linked lending rate) loan book," he said. The volume increase in the RAM segment will help compensate for a loss due to further rate cuts, he said. For the financial year ended March 2025, PNB has emerged as the top bank in terms of profit growth among 12 public sector banks (PSBs) with a 102 per cent rise. The bank's net profit doubled to Rs 16,630 crore compared to Rs 8,245 crore in the previous fiscal. The bank has reported a 14 per cent rise in total business at Rs 26.83 lakh crore in FY25, one of the highest in the banking system. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Malay Mail
23-05-2025
- Business
- Malay Mail
TNB announces highest dividend in four years, emphasises nation-building efforts
KUALA LUMPUR, May 23 — Tenaga Nasional Berhad (TNB) announced its highest dividend in four years at 51 sen per share, totalling over RM2.96 billion, while reaffirming its commitment to creating long-term value through sound financial management, operational strength, and community investments that benefit both shareholders and the nation. According to a statement by TNB, the company's commitment to nation-building went beyond financial returns. Through targeted programmes in education, community development and wellbeing, the company channelled long-term investments into meaningful outcomes. The statement said TNB's initiatives aimed to uplift underserved communities, bridge opportunity gaps, and foster social cohesion, while through scholarships, educational programmes, and rural outreach, the company empowered future generations and drove long-term impact. 'These efforts underscored its commitment to shared prosperity and nation-building beyond its core utility role, and it was also implementing Phase II of its Village Street Lighting Programme, installing over 14,000 energy-efficient LED streetlights in rural areas to enhance safety, connectivity, and economic inclusion,' the statement said. It added that the dividend payout aligned with TNB's 60 per cent dividend policy and benefited millions of Malaysians, as over 60 per cent of its shares were held by major Government-Linked Investment Companies (GLICs), including Permodalan Nasional Berhad (PNB), the Employees Provident Fund (EPF), Khazanah Nasional Berhad, Kumpulan Wang Persaraan (KWAP), and Lembaga Tabung Haji (LTH). In 2024, TNB contributed RM874.7 million in tax and zakat, strengthening public finances and supporting nationwide community wellbeing. Beyond financial performance, the company allocated RM140.9 million for contributions and sponsorships in education, sport, community development, and environmental initiatives. TNB added that its strong performance had benefited from favourable macroeconomic conditions, including a strengthening ringgit and 5.1 per cent of national gross domestic product (GDP) growth and its performance demonstrated eight years of consistently maintaining dividend payouts at the higher end of its 30-60 policy range. Highlighting Malaysia's record-high approved investments of RM378.5 billion in 2024, as reported by the Investment, Trade and Industry Ministry (MITI), TNB said this had translated into stronger industrial and commercial electricity demand. TNB noted these achievements reflected not only its operational excellence but also aligned with national aspirations to deliver reliable infrastructure, promote inclusive growth, and accelerate the energy transition under the Ekonomi MADANI framework. In 2024, TNB invested RM11.2 billion in capital expenditure to accelerate grid modernisation and support the national energy transition, including key upgrades facilitating renewable energy integration and strengthening network resilience across Peninsular Malaysia. TNB said the company maintained an 87 per cent Customer Satisfaction Index score through improved service quality, while its MSCI ESG rating upgrade to 'A' demonstrated sustainability leadership through reduced emissions, improved water efficiency, and expanded renewable energy adoption – all of which strengthened investor confidence. At the company's 35th Annual General Meeting held at Pusat Konvensyen Leo Moggie here, TNB Chairman Tan Sri Abdul Razak Abdul Majid said the dividend payout reflected TNB's commitment to delivering consistent and sustainable returns to shareholders. 'These distributions ultimately reach millions of Malaysians, reinforcing national savings, retirement security and broad-based financial wellbeing,' he said. Meanwhile, TNB president/chief executive officer Datuk Megat Jalaluddin Megat Hassan reaffirmed the company's focus on sustaining stable returns while investing in systems and communities that support national development. 'Our strategy is clear, we aim to maintain robust performance while generating long-term value for the rakyat through responsible returns and meaningful impact. By strengthening the reliability of our services, managing costs effectively, and anchoring our efforts in nation-building, we continue to deliver steady value even amid global uncertainties,' he said. — Bernama
