Punjab National Bank (PNB) is getting ready to launch its own wealth management services by December this year. Ashok Chandra, the Managing Director and CEO of the bank, shared that this move is part of a plan to increase non-interest income (money earned through fees and services rather than loan interest). The bank wants to help its high-net-worth customers manage their investments and assets more effectively.

The first phase of this plan started six months ago when PNB deployed 1,700 Customer Relationship Managers (CRMs) across 1,700 branches. These CRMs are responsible for looking after the top 250 to 300 customers at each branch. By the end of this month, the bank plans to add 1,300 more CRMs to 1,300 additional branches. This means the bank will soon have a total of 3,000 specialists focused purely on serving high-value clients.

To make this service professional, PNB is hiring consultants and will soon start an RFP (Request for Proposal) process. An RFP is a formal document used to invite vendors to bid for a project. Through this, the bank will find a partner to help build their wealth management platform. CEO Ashok Chandra expects the service to be fully active by the third quarter of the current financial year.

Apart from wealth management, PNB is also pushing hard in the credit card market. In the past, the bank had a small card business, with only 6.6 lakh cardholders in March 2025. However, after building a new digital stack (a group of software and technology tools) in late 2025, the bank scaled up quickly. They recently launched the Luxura Credit Card, a premium metal card for rich clients, which has already gained 25,000 users in just four months.

The numbers look very promising for the bank. PNB is approaching 10 lakh total credit card holders and hopes to reach 15 lakh by the end of this year. The bank specifically wants the premium Luxura card to reach 1 lakh users by the end of the financial year. This growth is expected to improve the bank's bottom line (total net profit) significantly.

PNB has set a high target for its overall performance. After earning a net profit of Rs 16,904 crore last year, the CEO believes the bank can cross the Rs 20,000 crore profit mark this financial year. The bank has already been maintaining a net profit of over Rs 5,000 crore every quarter since the second quarter of last year, and the management expects this trend to continue.

For bank officers and aspirants, this means PNB is shifting its focus toward retail and fee-based income. The bank is also focusing on loan growth in sectors like RAM (Retail, Agri, and MSME) and self-help groups. Total loan growth is expected to be between 12% and 13%, while deposits are projected to grow by 9% to 10%. To reach these goals, staff can expect more mega outreach activities and a high focus on digital banking tools.