Case Study

What are Punjab National Bank (International) Ltd's plans for UK growth?

Punjab National Bank (International) Ltd is a wholly owned UK subsidiary of New-Delhi based Punjab National Bank, which is one of the oldest nationalised banks in India dating back to 1857. The Punjab National Bank has around 70,000 employees, 7,000 branches and 12,000 ATMs and the bank is continuing to grow.

We spoke to Ian Measor, CFO at Punjab National Bank (International) Ltd, about the bank's UK operations and the attractiveness of the UK domestic market.

What does your company do?

Punjab National Bank (International) Ltd was incorporated here in the UK in 2006. We started operations the following year in 2007.

We offer a full-range of UK banking services from buy-to-let mortgages and individual savings accounts (Isas) to commercial and syndicated loans.

Why did you choose to set up in the UK?

We wanted to serve the people of India internationally and, in order to best serve those people, it was thought we should have a bank in the UK.

We now have 7 branches in the UK: three in London and four in the Midlands. We serve close to 60,000 customers and we are now expanding to the local population in the UK as well. 

There are thousands of banks and foreign banks in the UK. You can always find the talent you want. Not just staff talent but you can find advisers and consultants at every level that you want.

What advantages and attractions are there to your bank being based in the UK?

The UK is still the top in terms of regulation – it has a really positive reputation, and the fact that there is a branch network in the UK gives our parent company great confidence.

What are your bank's growth plans in the UK?

Our expansion is in the housing market and, in particular, in the buy-to-let arena. That is probably where we see most of our growth. Our customers are quite active in that space.

We also continue to expand our technology offering and have recently launched our mobile banking app. There is a lot of movement in the tech and fintech area in the UK, so it’s a great place to be.

Related content