Punjab National Bank Investment Consultancy Unit
The Punjab National Bank (PNB) has revealed that its newly created subsidiary firm, intended to provide investment consultancy and merchant banking services, will be operational soon, even when the company is planning to merge its primary dealership arm "PNB Gilts" with itself.
Ranjan Dhawan, General Manager of PNB said that the bank has incorporated its subsidiary PNB Investment Services with an initial paid-up capital of Rs 5 crore ($1.06 million) and will start the operations in the next three months.
The company will provide consultancy service related to capital markets such as mergers and acquisitions, as well as issue management.
PNB is one of the largest banks in India with over 37 million customers and more than 4590 branch offices.
The Punjab National Bank (PNB) has revealed that its newly created subsidiary firm, intended to provide investment consultancy and merchant banking services, will be operational soon, even when the company is planning to merge its primary dealership arm "PNB Gilts" with itself.
Ranjan Dhawan, General Manager of PNB said that the bank has incorporated its subsidiary PNB Investment Services with an initial paid-up capital of Rs 5 crore ($1.06 million) and will start the operations in the next three months.
The company will provide consultancy service related to capital markets such as mergers and acquisitions, as well as issue management.
PNB is one of the largest banks in India with over 37 million customers and more than 4590 branch offices.
Via:http://www.banking-business-review.com/news/punjab_national_bank_starts_investment_consultancy_unit_260509
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