PNB eyeing presence in Kazakhstan

By | October 13, 2009

A top bank executive of Punjab National Bank has said that the bank is scouting for acquisition of a bank in Kazakhstan as part of its plans to expand its presence. Punjab National Bank Executive Director Nagesh Pydah addressing reporters in Chennai said, “There are lot of opportunities (in Kazakhstan). A high level delegation has visited the place and it is very much on our radar (for acquisitions)”

At present, PNB has a representative office at Almaty in Kazakhstan. As answer to a question, Mr.Pydah said that PNB would have a controlling stake in any bank which it was planning to acquire. In addition to this, the bank is also planning to open a 100 per cent subsidiary in Vancouver (Canada) and would convert its representative office at Dubai to a branch. PNB, which entered the credit card businesses in February this year, is also planning large scale expansion in this sector.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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