Punjab & Sind Bank plans to open 100 branches this fiscal

New Delhi: Punjab & Sind Bank plans to open 100 branches across the country in the current financial year as part of the strategy to expand its reach. During the year, the bank also plans to add 100 new ATMs to its network.

“With the addition of 100 branches, the total number of branches would reach 1,665 by the end of 2024-25, and similarly, the number of ATMs would touch 1,135,” Punjab & Sind Bank Managing Director Swarup Kumar Saha said.

The bank will continue to focus on branch expansion, and new branches would come up in areas other than the northern region, he said.

Besides, the bank also proposes to expand its reach through the Banking Correspondent (BC) channel. The bank plans to more than double its BC network during the current fiscal, he said, adding, that the bank is trying to expand this network to 4,000 by the end of FY25.

The bank is working on customising more products and processes to improve customer experience, Saha said.

On the digital front, he said, “We are adding new products and services on an ongoing basis on our Mobile APP PSB UnIC, Branch Expansion, expanding corporate BC model, mutually beneficial partnerships with fin-techs, capacity building to address evolving customer expectations”.