PNB Targets Rs 30 Lakh Crore Milestone: Strategic Roadmap Unveiled

Punjab National Bank (PNB) is set on a path to reach a total business milestone of Rs 30 lakh crore by the fiscal year's end, driven by its strategic focus on credit and deposit growth. The bank aims to exceed its Rs 29.56 lakh crore target, according to MD and CEO Ashok Chandra.

PNB's operating profit reached a record Rs 7,081 crore in the first quarter, as Chandra highlights a shift towards profitable growth. The bank is actively optimizing its deposit mobilization and corporate loan book to enhance profitability, reducing bulk deposits while focusing on a robust pipeline of Rs 1.29 lakh crore in corporate loans.

In addition to aggressive corporate lending, Chandra points to significant growth in MSME and retail sectors. The bank is also placing emphasis on agriculture, especially self-help groups, and infrastructural facilities, to boost priority sector lending. Meanwhile, strategic outreach programs and a focus on low-cost CASA deposits are key elements in PNB's growth strategy.

(With inputs from agencies.)