PNB to open 140 branches in India, one in Hong Kong

Chennai, Aug 16 (UNI) The Punjab National Bank (PNB) will open 140 new branches in India and one in Hong Kong during this year besides opening more ATM centres in the country.

Talking to newspersons here today, PNB Chairman and Managing Director K C Chakrabarty said "we have already sent the proposals for approval to RBI for opening 140 new branches in the country." "Deck will also be cleared very shortly to set up a new branch at Hong Kong this year," he added.

He said " the RBI had given necessary permisson and steps were on to open a branch in Singapore and Canada (subsidiary)." On the Tamil Nadu perspective, he said the bank would open five to six branches this year, besides setting up 20 new ATMs, including one each in Chennai Central Railway station and Coimbatore Railway station.

He said the bank had recorded a year on year growth of 32 per cent in Tamil Nadu, a best performance compared to other states.

Mr Chakrabarty said the PNB would give priority to financing Self Help Groups (SHGs) with the help of the NGOs across the country.

On modernisation plans, he said the bank proposed to install more computer terminal to strengthen its core banking solutions.

"Overall, on the technology front, we have already invested Rs 600 crore and plan to invest another Rs 300 crore in three years", he added.

UNI