Bank of Punjab was a new generation private sector bank with 139 branches and 227 ATMs at the time of Sabre’s investment. Sabre saw it as a synergistic fit with Centurion Bank by way of an excellent retail deposit franchise, concentrated presence in North India and a complementing product portfolio. It was able to unlock value through a full merger with Centurion Bank and it exited the combined business christened ‘Centurion Bank of Punjab’ through a strategic sale to HDFC Bank in 2008.