Punjab National Bank (International) Ltd, a UK-based wholly owned subsidiary of India's public sector bank Punjab National Bank has opened its fifth branch in the UK at Ilford, east London and plans to add two more this year.
Punjab National Bank (PNB) Chairman and Managing Director KR Kamath said the two new branches would be located at Wembley and Wolverhampton.
PNB has more than 5,000 branches, 56 million customers and a total business of Rs 4.37 lakh crore.
Besides pan-India operations, it has presence in nine countries including the UK, Hong Kong, the UAE (Dubai), China, Norway, Kazakhastan, Nepal, Bhutan and Afghanistan.
PNBIL MD SR Sharma said the bank's technology-based products like Chip & PIN-based debit card, Internet banking, competitive interest rates and customer-centric approach have helped it expand customer base and increase profit rapidly.