PNB registers 18.6 per cent growth

Shimla, Apr 29 (UNI) The Punjab National Bank (PNB) has registered an 18.6 per cent growth on year-on-year basis as its total business amounted to Rs 1,94,000 crore in 2005-06, Bank's Chairman-cum- Managing Director (CMD) S C Gupta said today.

The focus of retail lending this year was on housing and traders' finance segments, which grew by around 33 per cent to touch Rs 15,500 crore till March this fiscal.

The bank's priority sector credit registered a growth of 22.8 per cent at Rs 32,500 crore till March 31, 2006 as compared to Rs 26,469 crore in the corresponding period last year a release said here today.

Mr Gupta said the priority sector credit stood at 43.33 per cent of the net bank credit, which was much higher than the national average of 40 per cent.

The bank was laying greater emphasis on financing agriculture, small-scale industries (SSIs) and small and medium enterprises (SMEs) in line with the RBI's and government's expectations and keeping in view their huge employment generation capacity, he said.

Accordingly, he said, lending to agriculture sector registered a growth of 22.6 per cent on year-on-year basis with Rs 14,300 crore in 2005-06, while share of agriculture credit in net bank credit stood at 18.77 per cent.

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