Punjab National Bank (PNB), the country's third largest bank, is planning to open five overseas offices over the next one year, in order to cater to Indian emigrant population.

The bank has already filed for approvals in the different countries and expects to obtain licenses in a few months time.

According to reports, the branches will be opened at Shanghai, Dubai, Norway, Vancouver, Canada, and Bhutan. The bank recently opened a branch each in Hong Kong and the UK.

Apart from establishing offices in abroad, the bank is planning to establish 1 lakh touch points in rural areas in north-India to increase its domestic footprint.

Yesterday, PNB has launched MoneyGram remittance service in association with Thomas Cook India Ltd and UAE Exchange & Financial Services Ltd.