To enhance its non-interest income, Punjab National Bank is planning to roll out wealth management services by December, the bank’s managing director and CEO Ashok Chandra said.
“The first stage of our wealth management strategy is to ensure that the bank has Customer Relationship Managers (CRMs) in place. Six months ago, we deployed around 1,700 CRMs across 1,700 branches. Their primary KRA (key responsibility area) is to manage and take care of approximately 250 to 300 top customers in each branch,” he told PTI in an interview.
The public sector lender is now planning to deploy another 1,300 CRMs and by end of this month. It would deploy them in another identified 1,300 branches.
“That was the first step we undertook. We have also started engaging with consultants for our wealth management initiative. Very shortly, we expect to initiate the RFP process to appoint a partner for wealth management services.
“I believe that within the next three to four months, our wealth management
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