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PNB to launch wealth management services by December
Punjab National Bank will roll out wealth management services by December to boost non-interest income, MD and CEO Ashok Chandra said. The bank deployed 1,700 customer relationship managers across branches six months…
The Story in Brief
Punjab National Bank will roll out wealth management services by December to boost non-interest income, MD and CEO Ashok Chandra said. The bank deployed 1,700 customer relationship managers across branches six months ago and plans another 1,300 by month-end. It will start the RFP process to appoint a partner soon.
PNB's credit card base is nearing 10 lakh, up from 6.6 lakh in March 2025. Its Luxura metal card has reached 25,000 holders, targeting 1 lakh by March. Chandra expects net profit to cross Rs 20,000 crore in FY27, with loan growth of 12-13 per cent and deposit growth of 9-10 per cent.
The Indian Opinion
PNB's wealth management push is sensible, but the fuss about credit cards and profit targets hides the real test. Card numbers mean little if fee income stays thin and defaults rise. The bank promises Rs 20,000 crore profit, yet it must show asset quality holds at 12-13 per cent loan growth. Watch quarterly slippages and the cost-to-income ratio. If those stay healthy, the targets are credible. If not, this is just another public sector lender chasing optics.
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
