State-owned Punjab National Bank has roped in Indian test skipper Virat Kohli as brand ambassador to improve its image which has taken a hit due to rising bad loans. On the occasion Kohli said ‘PNB is Mera Apna Bank’ as he has been an account holder of the bank since the age of 16 years.
“Today PNB is seen as a complete universal bank. Virat Kohli, an energetic young sportsman having mass appeal to the youth of our country has been chosen as brand ambassador who comes with qualities like determination, focus and for whom winning is a habit,” the bank said in a statement.
Since its inception in 1895, it said, PNB has been people’s bank serving millions of customers throughout India. Over the years, PNB has grown from strength to strength and has established itself as a major player in Indian banking space, it said, adding, the bank has remained a trusted name in banking, attending to all the segments of the society.
For the first quarter ended June, the bank’s profit declined by a 58 per cent to Rs 306 crore on account of mounting bad loans. During the quarter, provision towards non-performing assets (NPAs) have jumped almost three-fold to Rs 3,620 crore from Rs 1,291 crore in the same period a year ago.
The Gross NPAs rose significantly to 13.75 per at the end of June 2016, from 12.9 per cent in the year-ago period. The net NPAs too rose to 9.16 per cent against 8.61 per cent in June 2015. In absolute terms, the gross NPAs of the bank more than doubled to Rs 56,654.09 crore from the year-ago levels.