PNB Kerala records impresive growth in Q2

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Kozhikode, Nov 4 (UNI) In consonance with an impressive growth at national level, the Punjab National Bank (PNB) in Kerala, has posted a total Rs 3,273 crore business by September this year as compared to Rs 2,802 crore recorded during the corresponding period last year.

Deposits of the bank had increased to Rs 1,862 crore in the second quarter, registering a 23.59 per cent year-on-year (YOY) growth from Rs 1,506 crore as compared to previous year, PNB Kerala Circle Head Krishnan Ramiah told reporters here today.

He said advances of the circle at the end of Septmber stood at Rs 1,412 crore as against Rs 1,295 crore last year while priority sector advances hiked from Rs 783 crore in September 2007 to Rs 875 crore this year.

Education loan, which was the main thrust area of the bank grew YOY by 67.85 per cent with a total disbursement of Rs 36 crore during the current fiscal, he said.

On the expansion plan, he said the PNB, which had 132 branches, all networked under Core Banking Solution, proposed to open two more branches at Edpally in Ernakulam and Kovur here and ten more ATMs shortly.

At the national level, the total business of the bank has increased by 25.96 per cent to reach Rs 3,16,747 crore posting a net profit of Rs 709.09 crore thus improving its growth by 31.31 per cent on YOY basis, he added.

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