Punjab National Bank’s MD and CEO, S. S. Mallikarjuna Rao today said that there will be no retrenchment of employees following the merger of the Oriental Bank of Commerce and Union Bank of India with PNB. During the virtual press conference held to discuss the Q1 FY21 results, S. S. Mallikarjuna Rao added that PNB has a strength of 1.03 lakh employees and as the business grows, this employee strength will further grow. Speaking about ways to raise capital, he further said that PNB has planned to go for Qualified Institutional Placement (QIP) by the end of the third quarter or early fourth quarter and there is no plan to approach the government for capital infusion.Amid the expectation…
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Won’t lay off employees due to merger with OBC, UBI; manpower to grow as business grows: PNB MD & CEO – Banking & Finance News
