PNB to expand presence in Central Asia
Bangalore | Saturday, Nov 21 2009 IST
 

With a view to expanding its presence in Central Asia, public sector under Punjab National Bank will acquire a 74 per cent stake in Kazakhstan-based Dana Bank, subject to the approval by Reserve Bank of India (RBI).

Disclosing this to reporters here today, PNB Chairman and Managing Director K R Kamath said the bank will open soon a joint venture bank in Bhutan involving a local partner and a branch at the DIFC, the United Arab Emirates.

The Bank has also obtained the RBI's approval to set up a subsidiary at Vancouver in Canada and given a presentation to the monetary authorities in this regard. The response is positive, he said adding that the Bank will upgrade its representative office at Shanghai in China to a branch. Replying to queries, he said the Bank is also concentrating on consolidation process with a view to strengthening its presence in West and South regions within the country. The bank has a total business of Rs 8,600 crore in Karnataka circle which has 54 branches. He said the Bank also launched an ambitious 'Project Namaskar' under which one lakh touch points will be established in unbanked villages by 2013 to extend the Bank's outreach and create a large customer base. The bank earned a net profit of Rs 1,759 crores for the half year ended September 2009, he added.

He ssid the Bank's vision is to cross Rs 10,00,000 crore business and enlist 150 million customers base by 2013.

-- (UNI) -- 21DC5.xml

 

Viewer's Comment Comments Not Available

More Stories

Rajasthan Tourism beckons 

Anbazhagan blames Pondy govt for rising rate 

Haryana issues advisory on consumption of Lauki juice 

Encephalitis not any issue in Poorvanchal during UP polls ! 

Congress will do better than expected in UP polls: Digvijay 

Case of poll code violation against Cong candidate 

Lakhs join Friday following Eid-e-Milad prayers in Kashmir, Ladakh 

NBA demand to scrap Maheshwar deal 

Printer Friendly Version