PNB to focus on self-service, automation to deal with Covid-19 setbacks

MD Rao said 2019-20 started with an overarching goal towards 'Year of Profitability and Creating Value', leaving the adversities of the previous financial year behind

Punjab National Bank proposes to accelerate self-service and focus on automation with a view to optimise processes, employees and workplace and thus deal with the challenges following the outbreak of coronavirus, the lender said in a message to shareholders.

The current crisis will steer the banking industry to remote working which is likely to shape the cost structure in the days ahead, PNB's MD and CEO S S Mallikarjuna Rao said in a letter to shareholders. He noted that MSME, agriculture, agro-based industries, healthcare, among others, present ample opportunities for growth and lending.

"The bank will accelerate self-service and automation