SHRI P.CHIDAMBARAM INAUGURATES PNB’S 2000th CENTRALISED BANKING BRANCH
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Shri P. Chidambaram, Hon’ble Finance Minister of India, inaugurated 2000th Centralised Banking Branch (CBS) of Punjab National Bank (PNB) at Asaf Ali Road, New Delhi. Shri S.C.Gupta, CMD, Sh. C.P.Sawarnkar, ED, PNB, other top officials and valued customers of the Bank were present on the occasion.
Complimenting PNB on its achievement, Shri Chidambaram said that PNB has achieved yet another milestone of crossing 2000 branches under CBS cover. It shows that if there is a will there is nothing, which we cannot achieve. Our human resources, intellectual capacity, capacity to work hard and capacity to take decisions and above all our ability to convert it into action points is unparallel in the world. PNB is an outstanding example of taking the challenge of adding 1000 CBS branches in a year, that means 3 branches a day. He further added that if consolidation takes place PNB is poised to become a giant bank as well as a globally sound bank.
Speaking on the occasion, Shri S.C. Gupta, CMD, PNB said that besides enjoying sound fundamentals PNB has been focusing on technology. The Bank has already achieved 100% computerization of branches and has set up over 650 ATMs. Besides this, through the ATM network sharing arrangement, the customers of the Bank have access over 18000 ATMs throughout the country. PNB is one of the participating banks in e-payment initiatives of Govt. of India under National e-governance plan. Vision of the bank is to become a technology driven organization providing comprehensive financial and related services in a cost effective manner. He further added that PNB is the first nationalized bank in the country to have covered 2000 branches under Core Banking.
PNB has achieved another milestone in its 111-year tradition of sound and prudent banking. The Bank has emerged as number one bank among the nationalized banks in the country and third largest bank in terms of assets in the entire banking industry. Total business of the bank is currently over Rs.187,600 crore and expected to touch Rs.190,000 crore by the end of this current financial year. Priority sector advances at the close of 3rd quarter are Rs.30,170 crore which is 45.5% of Net Bank Credit.
The rolling out of 2000th branch under Centralised Banking Solution is another feather in the cap of Bank's technology initiatives to bring "Convenience Banking".