State-owned Punjab National Bank on Wednesday said that all the United Bank of India and Oriental Bank of Commerce branches across the country have started functioning as PNB branches. The merger of Punjab National Bank, United Bank of India and Oriental Bank of Commerce became effective from Wednesday, April 1, 2020. After this merger, Punjab National Bank has now become the second largest nationalized bank in the country according to the business and branch network.
The bank owner said that PNB 2.0 will offer interoperable services through all platforms and all branches, including mobile and internet banking. The merged banks have a large reach with around 11,000 branches, over 13,000 ATMs, one lakh employees and a combined business of over 18 lakh crores.
SS Mallikarjun Rao, MD and CEO, Punjab National Bank, said, "A greater geographic reach will help us serve our customers in a more efficient and efficient manner."
The bank said that it has appointed 'Bank Shakti' in all branches / zones / head offices, so that it can help customers in choosing the right products and services. He said that this will also facilitate the transition of customers. PNB stated that a strong risk governance mechanism has been put in place to mitigate the risks and secure the banking experience.
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