Punjab National Bank registers net profit growth of 31.1% in Q2, FY10

Small & Medium Enterprise

• As at the end of Sept’09, the bank’s credit to SME sector increased by 63.8% to Rs 31030 crore from Rs. 18948 crore as at 30.09.08 and Rs. 23700 crore as at 31.03.09.

• SME Centres (HUB) have been set up at Delhi, Kolkata, Chennai, Mumbai, Ludhiana, Amritsar and Chandigarh on pilot basis.

• The bank has set up Rehabilitation cum Care Centers at Circle Offices/SME branches manned by officials having experience in financing SMEs. They guide the MSME units on the matters relating to their financial needs and the facilities available from the banks/Govt/RBI.

• PNB has developed ‘Scoring Models’ for SME advances upto Rs 2 crore and is on pilot run in all the branches.

Technology

• Bank geared up 100% CBS implementation, achieving the landmark of becoming the largest nationalised bank to bring ALL branches & extension counters into CBS in 2008. Bank has also achieved another milestone of 5001 CBS SOLs on 30.09.2009.

• Internet Banking: Besides, providing “single window view” to accounts in the Bank, customers also enjoy benefit of payment towards services availed over Internet like Air/Rail tickets booking, e-Payment of Taxes, e-freight for Indian Railways, on-line donations, online share trading etc.

• SMS Alerts facility on transactions done through branch, ATM, Internet banking channels started for registered customers.

• Bank has installed 2455 ATMs facilitating more than 83.50 lakh cardholders of the bank transacting at more than 45,000 ATMs of various banks and around 60,000 POS terminals across the country.

• Bank is offering RTGS through 4527 branches and NEFT through 4529 branches.

• ECS (Electronic Clearing System) facility has been provided in 981 branches of the Bank at 49 Centres.



New Initiatives

• Bank had launched PNB Global Credit Card which is acceptable all over the world.

• Bank is venturing into new businesses and has set up Merchant Banking Subsidiary, namely PNB Investment Services Ltd. for carrying out the Merchant Banking Advisory (Non-Fund Based) services with corporate office at Delhi.

• To facilitate, factoring & trade finance related business, the bank has obtained permission from the RBI to set up a joint venture factoring company with FIM Bank (Malta).

• To expand PNB’s presence in central Asia, the bank is acquiring a controlling stake in Kazakhstan based bank. Soon, the bank is opening a Joint Venture Bank (JVB) in Bhutan and a branch at DIFC, UAE. The bank has also received RBI’s approval for setting up a subsidiary at Vancouver (Canada) and upgradation of Representative Office at Shanghai (China) to a branch.

• To have an effective mechanism for security of all information assets, the bank has established a world class Security Operations Centre (SOC).

• Under Branchless banking model of financial inclusion, the bank is implementing 46 projects in 17 States. Out of these, 38 are technology based financial inclusion projects while other 8 are credit driven projects.

• The bank has launched an ambitious ‘Project Namaskar’ under which 1 lakh touch points will be established in unbanked villages by 2013 to extend the bank’s outreach and create a large customer base.



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(This is a press release from Punjab National Bank)