PNB opens branch in Leicester city

The international arm of Punjab National Bank, the country's second largest public sector lender, on Thursday announced the opening of its first branch in Leicester city in the British Midlands region of the UK.

The new branch, which would initially create five new jobs, was inaugurated by Leicester's mayor, Manjula Sood, a press release issued here said.

The new Leicester branch would be the first of a number of new openings for the bank this year, the release said.

Branches are expected to be opened in Birmingham, Manchester, Wolverhampton and London in addition to existing branches in Southhall and London city.

"The opening will simultaneously occur with the launch of the bank's UK debit card that will work free of charge on 70,000 ATMs and a million POS systems in the UK," the release said.

Punjab National Bank was supported in its move to Leicester by Invest Leicestershire and the British Midlands India Business Bureau, both of whom helped with property searches to find a suitable location for the new branch, the release said.

Punjab National Bank chief K C Chakrabarty said that "the UK market represents an excellent opportunity for the bank, and Leicester, with its large Asian population, made it an ideal location for the first of our branch openings in
2009.

"With several new products and services due to be launched by the bank shortly, we are confident that our UK presence will continue to grow," he added.