PNB
plans to network its branches
Our Banking Bureau
15 March 2002
 Hyderabad:
Punjab National
Bank (PNB) has chalked out a major programme for networking its
branches.
 Addressing
mediapersons here on the eve of announcing the bank’s initial
public offer (IPO) of 5.3, PNB executive director T S Narayanasami
said the bank proposes to implement centralised banking solutions
by establishing connectivity between its branches. The programme
will cover over 2,000 branches and all ATMs by 2004 at a cost of
Rs 200 crore.
The bank expects this programme to result in lowering of its cost
of funds, which currently stands around 6.97 per cent. PNB has a
large network of branches throughout the country, enabling it to
raise cheaper funds. Narayanasami says the bank has a domestic
network of 4,265 offices, which include 3,864 branches and 401
extension counters.
The bank also has specialised branches to cater to the needs of
corporate and industrial finance, international banking,
non-resident  Indians,
hi-tech agricultural finance and small-scale industries. As many
as 365 of PNB’s branches were awarded ISO-9002 certification.
Go to the Punjab National
Bank index page
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