Punjab National Bank is accelerating its digital expansion to reach 13 lakh active credit cards and boost fee-based income by FY27.
PNB aims for Rs 200 crore in quarterly credit card revenue by FY28 through strategic digital expansion.
India’s public sector banks are increasingly embracing fee-based revenue models to strengthen overall profitability. As a result, Punjab National Bank is aggressively expanding its digital lending footprint nationwide. The institution plans to reach 13 lakh active credit cards by the end of financial year 2027. Furthermore, the lender expects this robust vertical to generate Rs 200 crore in quarterly revenue starting from financial year 2028.
This strategic push highlights a broader industry shift towards lucrative retail financing channels. The bank has already expanded its card user base significantly over the past year. The total number of issued cards jumped from 6.04 lakh in March 2025 to roughly 11 lakh today. Additionally, the premium Luxura card segment now accounts for approximately 27,000 active users within this growing portfolio.
Managing Director and Chief Executive Officer Ashok Chandra recently confirmed these ambitious financial targets. He noted that the leadership team wants to surpass the 13 lakh issuance mark during the current financial year. Therefore, the administration is entirely rebuilding the underlying credit infrastructure through an advanced digital platform. The strategy also includes launching innovative consumer schemes and establishing strategic market partnerships.
Beyond consumer credit, the financial institution is simultaneously scaling up supply chain finance and cash management services. Chandra detailed a comprehensive lending strategy across the corporate, retail, agriculture, and MSME sectors. He also addressed the deposit mobilisation framework and the current outlook for net interest margins. The executive also evaluated the potential impact of deposit repricing amid the ongoing rate-cut cycle.
The evolving regulatory environment remains a key focus for the bank’s future operations. Specifically, Chandra analysed the insurance regulator’s latest distribution norms. He explained how these new guidelines might influence the overall fee income generated by banking partners. Ultimately, this comprehensive roadmap reflects a determined pursuit of sustainable, long-term institutional growth.
(Source: BFSI)
Read more Finance News by clicking the 🔗 link.
