PNB eyes Rs.10,00,000 crore business by 2013

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PNB eyes Rs.10,00,000 crore business by 2013

Jan 10,2011

Having achieved a total business of Rs.500,000 crore till Dec 31, 2010, the country's second largest nationalised bank, Punjab National Bank (PNB), will target business worth Rs 10,00,000 crore by 2013, bank officials said here Sunday.

Addressing over 1,200 PNB officers at the joint triennial conference of all-India PNB officers association here, PNB directors Pardeep Kumar and M.P. Singh said that the business targets had been achieved by the bank despite a severe shortage of staff and certain government policies that were hindering the growth of nationalised banks in India.

"The bank is on course to achieve its target of generating Rs.10,00,000 crore business by 2013," they said while addressing the conference.

Stressing the need for filing up vacancies and upgrading infrastructure, they felt that staff shortage was the biggest hurdle in the way of generating more business.

"A further shortage is looming large with 20 percent of the total staff strength of nearly 54,000 set to retire in the coming 2-3 years," Kumar said.

Concluded.

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