State-run lender Punjab National Bank is accelerating its wealth management entry timeline to December 2026, with managing director and CEO Ashok Chandra confirming the updated rollout schedule during recent interactions. According to the latest reports, PNB has deployed 1,700 Customer Relationship Managers (CRMs) across 1,700 branches over the past six months, with plans to add another 1,300 CRMs by the end of September 2026 in an additional 1,300 identified branches. The relationship managers will target the top 250-300 customers in each branch to offer wealth management services, with the bank initiating a dedicated training programme for relationship managers to handle these services.
PNB is now actively engaging with consultants for its wealth management initiative and expects to initiate the Request for Proposal (RFP) process very shortly to appoint a partner for wealth management services. As per the latest developments, the bank has started engaging with consultants for its wealth management initiative and is moving forward with the formal partner selection process. This represents a significant step forward from the initial deployment phase, indicating PNB's commitment to building a comprehensive wealth management platform.
PNB is significantly expanding its credit card business, which it entered in 2009, after creating a digital framework for the business last year. According to the bank's CEO, credit card numbers increased from 6.5 lakh to 10.5 lakh within one year, with the bank adding 50,000 to 60,000 cards every month. The bank has launched a metal credit card, 'Luxura', on the RuPay platform, offering a maximum credit limit of ₹50 lakh with annual fee waiver if annual spending exceeds ₹8 lakh. Last month, PNB signed an MoU with the Indian Army to provide customised credit cards across all ranks.
PNB has demonstrated robust financial growth with revenue reaching ₹579.01 crore in FY 2026, representing a 10.30% growth from the previous year. The bank's net income grew to ₹220.88 crore in FY 2026, showing strong profitability improvements. Earnings per share increased to ₹19.23, reflecting the bank's enhanced operational efficiency. The bank's total consolidated revenue for Q1 FY26 stood at ₹37,998.84 crore, with GNPA at 3.78% and domestic deposits of ₹15,37,455 crore as of June 2025.
