Leading Indian bank, Punjab National Bank (PNB) has opened its first branch in Leicester city in the British Midlands region of the UK. The Worshipful Lord Mayor of Leicester, Councillor Manjula Sood inaugurated the new branch. The subsidiary of PNB, Punjab National Bank (International) Ltd also plans to open branches in Birmingham, Manchester, Wolverhampton and London very soon. The bank already operates its branches in Southall and London City.

 

The Indian bank was supported by Invest Leicestershire and the British Midlands India Business Bureau to set up its branch in Leicester. Both the organisations have helped PNB to find a suitable location for the new branch. While commenting on the newly launched branch, country representative of British Midlands, Chandrika Shah said that the region has other Indian banks like ICICI Bank, SBI, Bank of Baroda etc and PNB's entry will provide more options to the people. She added that British Midlands-based Leicester branch will also expand the reach of PNB worldwide.

 

Chandrika Shah is of the opinion that British Midlands region offers a viable business proposition to Indian companies and PNB will succeed in its mission in the region. According to the chief managing director of Punjab National Bank, Dr. K C Chakrabarty, the UK market with its large share of Asian population has come up as a very important location for setting up the first branch of the bank in the beginning of the year. He expects that PNB will gradually expand its presence in UK.