PNB needs Kazak regualtory nod for acquiring Dana Bank
By Vaibhav Aggarwal
Oct 29, 2010
Print    Email    RSS   

Public sector lender, Punjab National Bank is in wait for regulatory nod from Kazakhstan so that it can go ahead with the process of acquiring Dana Bank.

"We are in process of completing formalities. We have submitted application (to acquire Kazakhstan-based Dana Bank) to the regulator there," PNB Chairman and Managing Director K R Kamath said.

"I am quite hopeful that things would fall in place and approval would come," he said.

With acquisition of Dana Bank, PNB's route to commonwealth independent states (CIS) countries will also increase.

The bank currently has a representative office in Kazakh city Almaty.

On capital raising plan, Kamath said the bank has a headroom of Rs 7,200 crore under Tier II.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Your dream car - with good Car Loans from...
A chronicle of excesses by loan recovery...
Spend some time to get the best car insurance
Tata Nano: How would Bank Loans look
Affects of Car Loan Default

Hello I am looking to renew my car insurance and I...
my loan no
Lonavala Caℓℓ Girℓs 9765946980 / 9970712349...

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive