Punjab National Bank has fixed an grand aim of obtaining Rs 10 lakh crore business by March 2013 from the Rs 4 lakh crore as of December 2009, according to its chairman and managing director Kasargod Ramachandra Kamath.
The 2nd biggest government bank in the country made a net profit of Rs 1,011 crore in the final quarter and is planning to increase its client base from the present 46 million to 150 million by 2013, Kamath told media in an interview.
He said that the bank has fixed on a goal of Rs 10 lakh crore business by March 2013 and increase its client base from 46 million to 150 million by 2013.
He further added that most of this increase will occur on the basis of IT, offering “seamless banking service”.
Kamath said that the overall business of the bank went above Rs 4 lakh crore as of 31st December 2009. The gross profit of the bank for the past 9 months was Rs 4,994 crore and net profit in the same period was Rs 2,770 crore. For the past 3 months, the bank received an working profit of Rs 1,818 crore and a net profit of Rs 1,011 crore.
There are 4,894 branches of PNB and are soon expected to exceed 5,000-mark in another couple of months, he said further.
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