Punjab National Bank eyes 11% growth in total business to Rs 12 trillion

In a bid to curb frauds, the bank said it had tightened bank's credit underwriting norms and put in place an off-site monitoring to identify risks

Punjab National Bank (PNB) on Tuesday said it is eyeing an 11 per cent growth in its total business to Rs 12 trillion in the current fiscal year, despite being hit by a Rs 140 billion fraud four months ago.

“The guidance from PNB leadership for financial year 2018-19 is total business of Rs 12 trillion, which will account for 10.8 per cent year-on-year growth,” PNB said in a press statement. The bank’s total business stood at over Rs 10 trillion in 2017-18.

In a bid to curb frauds, the bank said it had tightened bank’s credit underwriting norms and put in