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Thursday, December 30, 2010

PNB still interested in insurance sector, seeks JV partner

Punjab National Bank today said its plans to foray into insurance business are alive and is looking for a joint venture partner.

"PNB has decided to have a fresh comprehensive re-look at its strategy for insurance business in India with a view to provide full range of financial products to its Indian customers and to realise full value of Bank's reach and customer base," the bank said in a statement here.

The bank said it is looking for opportunities in both life and non-life business.

It invited expression of interest (EoI) for strategic partnership in life insurance and non-life insurance business from Indian and international companies.

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