Punjab National Bank

Having successfully opened a subsidiary in the UK in 2007, Punjab National Bank has gone on to establish five branches, despite the economic downturn.

Punjab National Bank (PNB) has been operating in India since 1895 and is today the second largest bank in India, serving over 56 million customers through a network of over 5,000 branches across the country. The bank provides ‘Anywhere - Anytime’ service, and customers enjoy a full range of internet banking facilities.

In recent years, like many other major Indian corporates, PNB has chosen to expand its overseas presence, to make the most of opportunities around the world. In 2003, the bank opened a representative office in the UK.

“There is a strong diaspora of Indians in the UK, so it was a natural place for us to target, to further our plans for growth,” says Sukhdev Raj Sharma, Managing Director of Punjab National Bank (International) Ltd. “Also, the bilateral trade between India and the UK is strong and continues to grow, and we wanted to be a part of this. London being the hub of the financial world, it was important for us to position ourselves amongst the developed markets by having a base in this global financial centre.”