Pnb To Open 3 Branches Overseas Soon
Punjab National Bank (PNB) will open three overseas branches shortly. The bank has already applied to the Reserve Bank of India for approval.
"We had a branch in the UK few decades ago. Plans are to reopen the branch once we get the approval from apex bank," said chairman and managing director, S S Kohli.
The bank is also planning to open a second branch in the US. Meanwhile, on the operational front Kohli expects PNB to register a Rs 1,00,000 crore turnover this year.
Also Read
"Or turnover already is at Rs 92,000 crore in the first six months of the current fiscal," he said. Deposits have touched Rs 59,000 crore while advances were at Rs 33,000 crore.
The bank has postponed its plan to raise funds from the market. "We had plans, but we have deferred it, because of the situation in the capital markets," he said.
On the computerisation front, the bank has tele-banking service in 100 branches, while it has computerised 75 per cent of its 2,000 branches. Around 30 branches have remote access facility at present, which will be implemented in all metro branches in few months, Kohli said.