At end of December 2009, Punjab National Bank’s outstanding international business was $3bn, which amounts to about 3% of total business (deposits and advances). By expanding its international business operations PNB intends to increase this share to 7% over the next three years.
PNB is also in the process of establishing a subsidiary in Canada with an investment of $25m as regulatory capital. Ranjan Dhawan, chief general manager of the bank said that PNB would undertake different routes, including acquisition, based on regulatory norms and business prospects.
Meanwhile, the India-based lender said it would ramp up its ATM base to 8,000 units from the present 3,075 units over the next four years.
