BANK NEWS
PNB focusing to accelerate self-service automation to deal with COVID-19
New Delhi: Punjab National Bank proposes to accelerate self-service and focus on automation with a view to optimise processes, employees and workplace and thus deal with the challenges following the outbreak of coronavirus, the lender said in a message to shareholders.
The current crisis will steer the banking industry to remote working which is likely to shape the cost structure in the days ahead, PNB’s MD and CEO S S Mallikarjuna Rao said in a letter to shareholders. He noted that MSME, agriculture, agro-based industries, healthcare, among others, present ample opportunities for growth and lending.
“The bank will continue its focus on asset quality management and capital improvement in the post- pandemic environment, apart from continuing the accelerated momentum in recovery, product leadership, technology, efficiency, and small ticket lending,” Rao said.
He exuded confidence that in its new avatar, PNB 2.0 will scale still greater heights and continue its growth trajectory. The 19th Annual General Meeting of the shareholders of PNB will be held on August 4. The bank will seek shareholders’ nod for raising equity capital of up to Rs 7,000 crore. PTI
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