Punjab National Bank (PNB) is planning to open another 500 branches in the current year out of which about 22 would be included in Tamil Nadu and 10 in Tiruchirappali circle alone. Currently the bank has over 5,800 branches across the country.
PNB’s new venture ‘PNB Pragati’ is in the pilot stage after its August 2012 launch. Before December 2012, the bank will be converting 500 existing branches into PNB Pragati in metro and urban locations. PNB Pragati provides customers 24x7 service, includes withdrawal of cash, deposit of cash and cheque and updation and printing of passbooks in specially installed machines and trained staff at venue of the branches.
The bank’s net non performing asset (NPA) stood at 3.34% and Capital Adequacy Ratio (CAR) at 13%, as of June 2012. It has a customer base of around 17 million. The bank will recruit about 6,000 to 8,000 personnel each year for the next few years.
