Punjab National Bank plans to open subsidiaries in Canada and Kazakhstan, a branch in Shanghai (China) and a representative office in Australia, besides upgrading its representative office to a branch in Norway in the next one year.
The bank is also looking to add two more branches in the UK. Overseas operations currently account for 3.5 per cent of the bank's total business. The target is to increase the share to 7 per cent over three years. The bank is also looking to enter Indonesia, South Africa and Ghana through subsidiary, branch or acquisition routes, depending on the regulatory requirements.
PNB launched four new technology based products – PNB mobile banking, PNB-Biz-merchant acquiring business , PNB-Smart Invest and PNB-Xpress Remit (Remittances from abroad). Other products and services the bank is looking to offer in the future include Platinum credit cards, domestic pre-paid cards, world travel cards, Exchange Plus-currency conversion solutions for cross border cardholders and cash withdrawal at PoS terminals.
By 2013 the bank will increase its ATM network to 8,000 from the current 3075 and increase the customer base to 15 crore from the current 4.5 crore, with one lakh touch points. With almost 95 per cent of its technology services being done in-house, PNB may also explore the possibility setting up an IT subsidiary.
+1.jpg)
0 comments
Post a Comment