Public sector banking institution, Punjab National Bank on Monday (13th April) launched its online trading services. PNB introduced this service in alliance with brokerage firms Networth Stock Broking and SMC. In the current financial year the bank hopes to register a 23 percent growth in its net profit. The bank is also planning to merge its primary dealership arm PNB Gilts with itself.

 

Speaking on this occasion, PNB Chairman and Managing Director K. C. Chakrabarty said that, the bank’s customers would benefit from the online trading service. Online trading services are the only financial service lacking so far in the bank’s portfolio. PNB is offering three-in-one account comprising savings, demat and trading facilities at a competitive rate, he added.

 

Mr. Chakrabarty also said initially, the service would be available at 109 bank branches and soon extended to other branches too. They are also discussing the issue of taking over PNB Gilts with shareholders of both companies, he said. He further added that, this is a time consuming process and hope the merger would be complete within next 12 months.