Public sector lender Punjab National Bank (PNB) would pick up 64 per cent stake in JSC Dana Bank in Kazakhstan, according to Chairman and Managing Director K R Kamath.
Speaking to the media here on Thursday, he said the bank would spend about $ 24 million (Rs 111.36 crore) to acquire the stake in the Kazak bank. The bank would also raise $100 million by this month end to meet expansion plans, he said.
PNB was working to increase the foreign revenue share through expansions. “We aim to double the revenues from international operations by 2013,” he said. At present, the foreign revenues contribution is three per cent of the total revenues.