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 PNB is 'Movers & Shakers' of the Financial Sector- Vinod Rai

New Delhi October 13, 2006

Punjab National Bank in its endeavor to perform and constantly excel has grown by leaps and bounds over the spectacular years of its service. A name to bank upon, PNB has diversified its services, technology and business phenomenally from March 2000-March2006.

In its unique initiative to provide total customer satisfaction under a single window facility, the bank recently inaugurated the 8th Large Corporate Branch, at Tolstoy House, Tolstoy Marg, New Delhi.

This branch will cater to the needs of Large Corporate clients by providing them personalized banking services with state of art technology which will further help in leveraging its services. Large Corporate Branches have been set up with the main objectives of improvement in quality of credit, specialized monitoring and control, personalized customer service to high value clients, quick decision making in Credit dispensation and better exploitation of business opportunities.

PNB has already established 7 LCB's all across the country and with the opening up of another such branch, the bank has moved ahead to meet credit needs of the corporate sector. Bank has crossed business of Rs.2,13,000 crore at the end of first half of the current fiscal with gross credit of Rs.84385 crore

Present at the function, Shri Vinod Rai, Special Secretary, Financial Sector, Ministry of Finance, Government of India said " PNB is recognized as a happening bank, a bank which is on the go, a bank which is movers & shakers in financial sector."

On the occasion, Shri S.C. Gupta, Chairman & Managing Director of the bank said  “that the Indian economy has shown robust growth and is poised to scale greater heights.”

Sh. K. Raghuraman, Executive Director of the bank stated that “with corporate sector exhibiting greater dynamism, it is crucial to build a strong, sound and efficient financial sector to cater to their needs.”

The Indian Economy is growing at 8% plus.  Banks have to accept this challenge and provide support in terms of credit expansion.   By opening 8th Large Corporate Branch as a one-stop shop, PNB is facilitating the credit needs as today's customer is loyal to the banks with better customer service only and banks have to place systems, which are better than the best.

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