PNB is targeting net profit of ₹20,000 crore during FY27, with management confident of achieving this milestone through strategic focus on wealth management and credit cards. As per Rediff Moneynews, Managing Director S S Chandra indicated that if the bank maintains its current quarterly net profit run rate of ₹5,000 crore, it could reach the ₹20,000 crore target. The bank is focusing heavily on mega outreach activities every quarter on a large scale, with loan growth expected at 12-13% and deposit growth at 9-10% during the ongoing financial year. The strategy emphasizes retail, agriculture, MSME, and self-help groups as key focus areas for asset creation.
PNB has deployed 1,700 Customer Relationship Managers (CRMs) across 1,700 branches over the past six months, with each CRM managing 250-300 top customers per branch. As reported by Rediff Moneynews, the bank is now planning to deploy another 1,300 CRMs by the end of this month in another 1,300 branches. The first stage of the wealth management strategy focuses on ensuring CRM presence across the network. The bank has also started engaging with consultants for its wealth management initiative and expects to initiate the RFP process to appoint a wealth management services partner very shortly. Within the next three to four months, PNB's wealth management offering will be in place, with the service expected to roll out by the third quarter.
PNB is working on expanding its credit card business, which is currently operating as a division headed by a General Manager. According to Rediff Moneynews, the bank is focusing on expanding this business segment as part of its diversified financial services strategy. This expansion aligns with PNB's broader goal of increasing its presence in the retail financial services sector through multiple product lines.
