PNB to install 5,000 ATMs, target overseas growth

Punjab National Bank (PNB), the second largest public sector
bank in India, is to augment its existing 3,075-strong ATM network
by installing 5,000 new units within the next three years.

The ATM network investment follows PNB’s recent IT initiative to
install a core banking system across its 4,800-strong branch
network.

In a separate announcement, PNB said it would seek to double its
international revenue from 3.5 percent of group revenue to 7
percent by the end of 2012.

PNB plans to set up subsidiaries in Canada and Kazakhstan and,
according to a report in the Business Standard, is eyeing up a
possible move into South Africa and Indonesia.

Sign up for our daily news round-up!

Give your business an edge with our leading industry insights.

Sign up