Punjab National Bank is implementing a comprehensive wealth management strategy to enhance its non-interest income streams. According to reports from The Economic Times, Business Standard, and PTI, the bank's managing director and CEO Ashok Chandra announced plans to roll out wealth management services by December 2025. The first stage involves deploying 1,700 Customer Relationship Managers (CRMs) across 1,700 branches six months ago, with each CRM managing approximately 250 to 300 top customers per branch. The bank is now planning to deploy an additional 1,300 CRMs in another 1,300 branches by the end of this month. As per PTI, Chandra expects the wealth management services to be operational within three to four months, with the bank engaging consultants and initiating the RFP process for a wealth management services partner. "I believe that within the next three to four months, our wealth management offering will also be in place. Going forward, PNB will have a very active engagement in providing wealth management services," Chandra told PTI.
PNB's credit card division has experienced significant expansion, growing from 6.6 lakh holders as of March 31, 2025, to approaching 10 lakh currently. As reported by The Economic Times, Business Standard, and PTI, the bank launched the premium Luxura Credit Card in November 2025, which has already reached 25,000 cardholders within four months of launch. The bank expects to cross 15 lakh credit card holders this year and anticipates the Luxura cardholder numbers to reach 1 lakh by the end of the ongoing financial year. According to PTI, Chandra revealed that the bank had only 660,000 credit card holders as of March 31, 2025, but scaled up aggressively after building digital infrastructure over five months. By the end of March 2026, the bank had reached 900,000 credit card holders, and today it is approaching 1 million. "By the end of March 2026, we had around 9 lakh credit card holders, and today we are approaching 10 lakh. This year, we expect to cross 15 lakh credit card holders. We are already approaching the 25,000 mark for our high-net-worth Luxura Credit Card," Chandra told PTI.
PNB anticipates its profit will surpass ₹20,000 crore in the current financial year, compared to ₹16,904 crore net profit in the previous financial year. According to reports from The Economic Times, Business Standard, and PTI, the bank has maintained a net profit of over ₹5,000 crore every quarter since the second quarter of the last financial year. Chandra expressed confidence that the bank will continue this trend, with each quarter reaching new heights in profitable growth. As per PTI, when asked about crossing the ₹20,000 crore mark during FY27, Chandra indicated that maintaining quarterly profits of ₹5,000 crore would support reaching that target figure. "If I am telling that every quarter ₹5,000 crore of net profit will happen, I think that goes to that figure which you are talking about," Chandra told PTI.
To achieve its targets, PNB is focusing on conducting mega outreach activities every quarter on a large scale. As reported by The Economic Times, Business Standard, and PTI, the bank's focus areas for asset creation include retail, agriculture, MSME, and self-help groups. Chandra projects loan growth of 12-13% and deposit growth of 9-10% during the ongoing financial year. The bank is also working on expanding its credit card business, which is currently operated as a division headed by a General Manager. According to PTI, Chandra believes the credit card expansion and wealth management services will contribute significantly to the bank's bottom line going forward, stating "I believe it has been a very positive move by the bank and will contribute significantly to the bank's bottom line going forward."
