Punjab National Bank plans to introduce wealth management services by December, aiming to enhance fee-based income and strengthen relationships with its key clients through a expanded network of customer relationship managers.
Punjab National Bank plans to launch wealth management services by December as it seeks to lift fee-based income and deepen ties with its biggest customers, managing director and chief executive Ashok Chandra said in an interview with PTI. The public sector lender is building the business around a network of customer relationship managers, or CRMs, who will be tasked with looking after the bank’s most valuable clients.
Chandra said PNB had already placed about 1,700 CRMs across 1,700 branches around six months ago, with each manager responsible for roughly 250 to 300 top customers. The bank now intends to add another 1,300 CRMs by the end of this month and deploy them across a further 1,300 identified branches, laying the groundwork for the wider wealth management push.
The move comes as PNB works to strengthen non-interest income at a time when lending margins remain under pressure across the banking sector. Business Standard reported that PNB’s consolidated net profit rose 11.6% to ₹5,189.79 crore in the third quarter of the 2025-26 financial year, while interest income increased 3.12% year on year to ₹32,889.23 crore. The bank has also been improving asset quality, with net non-performing assets down 13.6% to ₹3,834 crore in December 2025 from ₹4,437 crore a year earlier.
Recent data compiled by market trackers also suggests the lender has been steadily expanding its retail footprint and non-interest income base. JM Financial Services said PNB had 10,261 branches and 11,109 ATMs as of December 2025, while its non-interest income for the first nine months of the year rose 26% to ₹14,631.99 crore. That backdrop makes wealth management a natural next step as the bank looks to monetise its customer base more effectively.
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