Punjab National Bank launches in Australia

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A representative office of Punjab National Bank was inaugurated by Shri Namo Narain Meena, Minister of State for Finance (E & FS) and Shri K.R. Kamath, the Chairman and MD of PNB on 15th September 2011 in Sydney. PNB is the fourth Indian bank to launch in Australia. The launch function was attended by leading Australian bankers, business leaders, media leaders and members of parliament

 The Hon. Greg Pearce MLC, Minister for Finance and Services, NSW Government unveiled the bank’s plaque along with Sh. Meena. The function was also attended by the Hon. Melinda Jane Pavey, MLC, and Parliamentary Secretary for Regional Health, who represented the New South Wales State Premier, Barry O’Farrell and conveyed the Premier’s message that the presence of PNB in Sydney further cement the important business relationship our state has with India.

Minister of State for Finance, Government of India, Sh. Namo Narain Meena commended the bank, speaking of its history said that Punjab National Bank, with its experience gathered over last more than 100 years can play a catalytic role in stimulating the commercial ties between the two nations. He was confident that opening of Representative Office in Sydney will go a long way in realizing this goal’’.

The Consul General of India, Amit Dasgupta stated that the entry of the fourth Indian bank into Australia is a clear reflection of the strength of Indian banking sector and recognition of the strong fundamentals in the Australian economy. The presence of Indian banks will not only service the requirements of the resident expatriate community but also facilitate closer business-to-business and investment links between Australian and Indian companies.

The Chairman of PNB K.R. Kamath said that PNB was very happy to establish a Representative office due to the growing bi-lateral trade and business potential that Australia offers.

The Australia India Business Council, NSW welcomed the establishment of the bank as yet another milestone in the bilateral trade and business relationship between Australia and India.