Punjab National Bank: India's Quiet PSU Banking Compounder Coming Out of the Shadows
Punjab National Bank (PNB), founded in 1894 in Lahore and now headquartered in New Delhi, has travelled one of the most turbulent arcs in Indian banking history. From the brink of collapse following the ₹14,000 Cr Nirav Modi fraud in 2018, to becoming India's **2nd largest Public Sector Bank (PSB)** by total business, PNB has quietly staged a remarkable turnaround that the broader market is only beginning to price in. Trading at a **P/E of 7.26x**, a **P/B of 1.0x**, a **Return on Equity (ROE) o