Before joining Allahabad Bank, she was the MD & CEO of Punjab National Bank, a bank release said.
"The bank is open to selling its stake in the firm. We have not decided on the amount or time of the stake sale," MD, Usha Ananthasubramanian told the newspaper.
State-owned Punjab National Bank (PNB) will put on sale four bad assets worth Rs 295 crore in a move to shed non-performing assets from its books.
"Certain accounts are in the pipeline, may be assets around Rs 1800 crore, and these will be put on the block during the current fiscal," PNB Managing Director Usha Ananthasubramanian told PTI.
Hinting at the fact that another lending rate cut may not come very soon, Ananthasubramanian said that all banks have brought huge cuts to the MCLR (marginal costs of funds based lending rates) after demonetisation already and these cover all the benefits the RBI passed onto the banks.
In conversation with CNBC-TV18, Usha Ananthasubramanian, MD & CEO of Punjab National Bank (PNB), said 200 branches of PNB have been working in double shifts.
State-run bank Punjab National Bank is contemplating to move away from Indian Banks Association (IBA)-led wage settlement to retain talent under its own remuneration package.
Speaking to CNBC-TV18, Usha Ananthasubramanian, MD & CEO, Punjab National Bank, said PNB Housing Finance's retail housing segment is getting more impetus.
In an interview to CNBC-TV18 Usha Ananthasubramanian, MD & CEO, PNB said that the way forward is to reduce slippages.
In an interview to CNBC-TV18, Ananthasubramanian says the bank's savings deposits grew 14 percent year-on-year during the quarter. Also, the share of Current Account and Savings Account (CASA) funds has risen to 41.4 percent vs 38.9 percent on a YoY basis
Expect the bank's loan book to grow by 10 percent going forward, says Usha Ananthasubramanian, MD & CEO, Punjab National Bank.
PNB has subsidiaries like, PNB Housing Finance, PNB Gilts, and PNB Investment Services. Besides, it is one the sponsors of the country's oldest asset management company UTI Mutual Fund.
In an interview to CNBC-TV18, Usha Ananthasubramanian, Punjab National Bank (PNB) spoke about United Breweries Holdings.
Stating that selling bad loans to ARCs is not the only way to recover bad loans, newly-appointed PNB managing director and chief executive Usha Ananthasubramanian said there are more innovative ways to deal with NPAs than an outright sale to ARCs.
The government's seven-step Indradhanush initiative announced last week to push through public sector bank (PSB) reform is a "comprehensive" one, says newly-appointed Punjab National Bank CMD Usha Ananthasubramanian.
"For five large banks we had different procedure. For remaining banks we are going to hire from the pool of executive directors of the public sector banks itself," Financial Services Secretary Hasmukh Adhia told PTI.
The bank has already opened a branch in Indore and will soon open another in Ujjain. She also informed that the bank will open its 40th branch tomorrow in Bengaluru.
Two branches would be inauguarted as early as first week of next month. These are Delhi and Indore branches, she added.
Ananthasubramanian started her career in the actuarial department with LIC and banking career in February 1982 as a specialist officer in the planning stream of Bank of Baroda. Before joining BMB, she was an executive director with Punjab National Bank (PNB).
Finance Minister P Chidambaram has set up a committee of bankers and other experts to prepare a blueprint for all-women bank that is likely to become operational by November.