Punjab National Bank Punjab National Bank apprises shareholders of its performance in FY2020-21 at AGM
Kolkata/IBNS: Indian public sector bank, Punjab National Bank (PNB), apprised its shareholders of the bank’s performance and various initiatives undertaken through fiscal year 2020-21 at its recent Annual General Meeting.
The AGM was held in virtual mode in accordance with guidelines issued by SEBI and MCA.
S. S. Mallikarjuna Rao, MD & CEO of PNB, said, "In spite of the challenges due to COVID 19 pandemic, the bank was able to successfully amalgamate Oriental Bank of Commerce and United Bank of India into Punjab National Bank."
According to Rao, the bank completed the integration of business, human resource, and information technology (IT) integration of the three banks in record time.
“The synergies from amalgamation are being realized with an augmented capacity, capability and reach, with a wider geographical presence and a vast customer base. In addition, the revamped organizational structure has created a foundation for business growth with focused attention towards various business segments. The verticalized customer centric and digital credit delivery model has improved credit underwriting, efficiency and turnaround time,” said Rao.
Sanjay Kumar, Vijay Dube and Swarup Kumar Saha, Executive Directors; Dr. Asha Bhandarker and Gautam Guha, Shareholder Directors on the bank's Board; representatives of the central government and statutory auditors of the bank were also present at the meeting.
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