Published:
Punjab National Bank mulls Indonesia operations
The lender capitalises on robust trade between India and Indonesia.
PNB's Chief General Manager Ranjan Dhawan said the Delhi-based bank would choose routes (branch, subsidiary or acquisition) based on regulatory norms and business prospects.
The lender's outstanding international business was $3 billion at end of December 2009, which amounts to about 3 percent of total business (deposits and advances).
The bank is also in the process of establishing a subsidiary in Canada. Its operations are expected to start by end of 2010. Initially, it would invest $25 million as regulatory capital for the Canadian subsidiary.
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