CboP to unveil credit card facility soon
Centurion Bank of Punjab said that it will launch a credit card facility in the next couple of months. The bank would come out with the offering of credit cards before the end of this fiscal. Bank will soon launch credit cards which can be in the form of a joint venture or through outsourcing its processing or through a `White Label'. The bank will also come out with online IPO serivces within two months. Notably, the bank, result of the merger of Centurion Bank with Bank of Punjab on October 1, 2005, posted a net profit of Rs 23.27 crore, up by 227.7 per cent for the quarter ended December 31, 2005. Its capital adequecy ratio is 10.2 per cent. The MoU with IL&FS Investsmart Limited will help the bank customers seamless settlement of trade and funds for all their equity transactions done through IL&FS platform.