The Punjab National Bank (PNB), one of the country’s major public sector banks, can shut down 300 bank branches in its deficit or change their place in the next 12 months.
Sunil Mehta, Managing Director and Chief Executive Officer of the bank said that changing the branches running in losses in profitable branches in the business strategy is our priority. The bank has created a group under the leadership of senior officers who will conduct a detailed study in this regard and prepare a strategy to rationalize the branch network.
The Bank will consider the business prospects, the surrounding competitive scenario and the availability of the Bank’s Business Correspondent (BC) Network, so that any final decision can be taken on this issue. Let us know that at the present time, the bank has 6,937 branches (during the last financial year). It added 178 branches to its network.
During the six months of the financial year 2018, it has added three other branches and by the end of September it had taken the figure 6,940. PNB officials say that digital banking has caught the speed and has expanded into its BC network, which is helping the bank increase its outreach (reach).
PNB Shares of November 8, 2017:
On Wednesday, the shares of Punjab National Bank were trading at a level of 189.25 with a weakness of 0.79 per cent. Its highest level of the day is 194.60 and the lowest is 186.10. At the same time, it has a 52-week highest level of 231.60 and highest 112 levels.
Punjab National Bank Going To Close It’s 300 Branches Because These Branches Not Made profits. These 300 Branches Runs In Loss. Punjab National Bank Is A Big Bank In india. PNB Is A Public Sector Bank.
If Your Bank Account In These 300 Branches, Don’t Worry, When These Branches Is Closing, The Bank Will Inform You By Notification And Other Way.