Banks with business size of over Rs 25,000 cr - Rs 30,000 cr in the radar. | |
| Punjab National Bank (PNB) is working on acquiring a strong bank to propel its growth. |
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| "We are working on consolidation. In terms of size we are looking at banks with business size of over Rs 25,000-30,000 crore," S C Gupta, chairman, said. The earlier proposal to merge IFCI with PNB has been put on the back burner. |
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| Gupta said PNB was keen that their should be synergy in terms of employee rationalisation and technology. "We would need more and more capital and the acquisition should not be a drain on bank's resources," Gupta added. He did not specify anytime frame for the acquisition. |
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| On being asked if there was a branch network size that the bank was looking for, Gupta said," We are not averse to bank with a branch size of 200-250." |
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| Earlier today, Chidambaram asked the management of PNB to urge its employees that consolidation would be good for the bank. |
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| "If anybody, it is employees of State Bank of India, who should be worried as PNB can give SBI a run for its money if it consolidates," Chidambaram said speaking at PNB's achievement of bringing 2,000 branches under core banking solution. |
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