Fraud-hit PNB ranks highest in ‘reforms agenda’ in 2018: Study

Fraud-hit Punjab National Bank has been ranked first among public sector banks in the implementation of ’reforms agenda’, followed by Bank of Baroda and State Bank of India, said a report on Thursday.

The BCG-IBA report – EASE Reforms for Public Sector Banks — measures performance of each PSB on 140 objective metrics across 6 themes, including customer responsiveness, credit off-take and digitalisation.

PNB with a score of 78.4 out of 100 has been ranked first in the EASE (Enhanced Access & Service Excellence)-index, followed by BoB (77.8), SBI (74.6), Oriental Bank of Commerce (69), Canara Bank (67.5) and Syndicate Bank (67.1).

PNB has shown “strong performance” in the parameters like customer responsiveness, responsible banking, credit off-take and financial inclusion.

Releasing the report, Finance Minister Arun Jaitley said such rankings brings about competitiveness and encourages banks to perform better than peers.

It then emerged as the best performing bank (in EASE reform ranking)”.

PNB, which was involved in a Rs 14,356-crore scam by Nirav Modi, swung into black in the October-December quarter after posting losses in the three previous quarters.

Punjab National Bank