Public sector lender, Punjab National Bank expects the recently acquired Dana Bank to be able to return profits in a year's time.

"I think in a year we should be able to do it because there are lot of Indian companies operating in Kazakistan. I am sure we would be able to turnaround in one year," PNB Chairman and Managing Director K R Kamath said.

Kazakhstan as a country is also gaining strategic importance due to its growing economic cooperation with India.

PNB acquired majority stake in Dana Bank last month for about USD 23.7 million (about Rs 104 crore). The bank now holds 63.6% stake in the Kazak bank.

Dana Bank currently has 5 branches with 3 operational and remaining two at Astana & Taraz are to be operationalised soon.