Punjab National Bank, which is looking at strong growth in deposits as well as

RELATED ARTICLES Employees likely to see 12% pay hikes this fiscal BoB overtakes PNB as second most profitable PSU bank MTNL to offer VRS to about 20k employees; seeks BWA refunds PNB Q4 net jumps 18.6% at Rs 1,424 cr Kingfisher plans to pay Jan salaries from May 9

credit, will recruit 9,000 employees this fiscal, a top bank official said.

PNB Chairman and Managing Director K R Kamath said that out of the 9,000 staff to be hired, 3,000 would be in the officers category and the rest 6,000 would be clerks.

The bank expects 22 per cent growth in deposits and 18 per cent growth in credit during 2011-12, he said.

Kamath told reporters here that there are sector specific NPA concerns at the moment and rising interest rates would hurt the Small and Medium Enterprise (SME) sector.

PNB has agreed to pick up 30 per cent stake in private life insurer Metlife and also plans to launch co-branded credit cards along with the Institute of Costs and Works Accountants of India (ICWAI).