PNB records 17.31 pc growth in FY 2007-08

{image-punjab naional bank-1_22052008.jpg news.oneindia.in}Kozhikode, May 22: Commercial banking major Punjab National Bank (PNB), Kerala circle, has recorded 17.31 per cent growth by posting Rs 3,022 crore business (excluding high cost deposits) in the fiscal 2007-2008, as against Rs 2,576 crore during the corresponding period last year.

Deposits at the end of March 2008 amountd to Rs 1,661.21 crore as compared to Rs 1,369.82 crore in March 2007, registering a growth of 20.90 per cent on a YoY basis, circle Head, Krishnan Ramiah told reporters here last night. He said the low cost deposits continued to be the thrust area and were at 38.04 per cent of the total deposits. CD ratio of the circle works out to 82.24 per cent for the period, against 77.20 per cent during the same period last year, he said. The total business of the bank at national level rose to Rs 2,85,959 crore registering an YoY growth of 20.94 per cent.

Total deposits amounted to Rs 1,66,457 crore and advances stood at Rs 1,19,502 crore, achieving a record net profit YoY growth of 128.75 per cent, for the fourth quarter of 2007-08.

He said the PNB had entered into Rupee Drawing Arrangement with 21 exchange houses in the Middle East and one in Singapore to offer easy remittance facilities to the NRIs.

UNI