Punjab National Bank to sell its stake in Canara HSBC OBC Life Insurance Company, know the reason

Punjab National Bank

Punjab National Bank

PNB has said that it will sell its stake in Canara HSBC OBC Life Insurance Co. Ltd.

New Delhi. Public sector Punjab National Bank ie PNB has said that it will sell its stake in Canara HSBC OBC Life Insurance Co. Ltd. PNB had acquired stake in the life insurer in the last financial year after the merger with Oriental Bank of Commerce (OBC).

“The Bank will sell its stake in Canara HSBC OBC Life Insurance Company Limited at an appropriate time and subject to market conditions and available options,” PNB told the stock exchange on Saturday.

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OBC Bank has 23 percent stake in the companyOBC Bank holds 23 per cent stake in Life Insurance Company and OBC Bank has merged with PNB Bank. PNB Bank, however, did not specify what percentage of stake it would sell in Canara HSBC OBC Life Insurance Company.

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Opportunity to buy a cheap house, PNB is selling thousands of houses

If you are planning to buy a cheap house, then Punjab National Bank has come up with a special offer for you, in which you are getting a chance to buy a house cheaply. PNB is going to auction the property. Let us tell you that this auction has started from 25th May. Let us tell you that these are the properties which have come in the list of default. Let us tell you that information about this has been given by IBAPI (Indian Banks Auctions Mortgaged Properties Information). The properties that Punjab National Bank is going to auction include residential, commercial, industrial, agricultural properties.




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