PNB registers record growth in Kerala

Kozhikode, Feb 6: The Punjab National Bank (PNB) has registered a record 31.85 per cent growth in Kerala with a total business transaction of Rs 2673.09 crore during third quarter as against Rs 2027.35 crore during the corresponding period last year.

Deposits alone stood at 1557.09 as compared to Rs 1115.24 crore registering a growth of 39.62 per cent on a year-on-year basis, PNB Zonal Manager S P Singh said in a release here.

The low cost deposits, which was the thrust area, recorded 32.13 per cent of the total deposits, he said.

Advances was Rs 1116.00 crore as compared to Rs 912.11 crore in the previous year, registering a 22.35 per cent growth while retail credit amounted to Rs 615 crore against Rs 391.70 crore marking 57.01 per cent growth, he said.

Mr Singh said the PNB, which had a total network of 130 branches and eight extension counters in the state, would open three more branches at Kakkanad, Trikakara and Ernakulam very soon.

At the national level, the PNB had a total business of Rs 2,17,874 crore registering a growth of 26 per cent, he said.

Out of this, desposits amounted to Rs 130,225 crore and advances Rs 87,649 crore.

Net profit for nine months in the current fiscal amounted to Rs 1302.38 crore as compared to Rs 1150.64 crore for the corresponding period last year, registering a growth of 13 per cent, he added.

UNI