Punjab National Bank to form JV with AIG and Venture Infotech for Credit Card Business

Punjab National Bank has announced that the Board of Directors of the Bank has approved the setting up of a Joint Venture Bank in Bhutan.

The Bank has also approved the Upgradation of Representative Office, Shanghai, China to a Branch.

The Bank will be partnering Venture Infotech Global Pvt Ltd - American International Group Inc(AIG) Consortium as Joint Venture Partner for the proposed credit card business of the Bank subject to approval of RBI / Government of India.

The stock closed the day at Rs.496, up by Rs.8.85 or 1.82%. The stock hit an intraday high of Rs.497.65 and low of Rs.484. The total traded quantity was 219232 compared to 2 week average of 99925.

Source : Equity Bulls

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