PNB plans to network its branches
By Our Banking Bureau | 15 Mar 2002
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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.
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.
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