PNB to Sell Real Estate
According to Managing Director of the bank S. S. Mallikarjuna Rao said. the bank intends to sell some of its real estate assets and properties, including its old headquarter building. “We have a lot of real estate assets because of the merger with Oriental bank. We are planning to sell a good amount of these assets by the end of the third quarter provided the market is available. We will not be selling at a discounted price,” he said. PNB has a number of associates like PNB Housing Finance Ltd with a 32.65 per cent stake and PNB MetLife with 30 per cent shares. However, PNB has no plans to sell its non-core assets, including subsidiaries, in the current financial year.
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