PNB's total business in Kerala crosses Rs 7000 crore

The total business of Punjab National Bank in Kerala has crossed Rs 7000 crore, registering a y-o-y growth of around 30 per cent as on December 2, 2011, a top official of the bank said today.

Talking to reporters here, K R Kamath, Chairman and Managing Director, Punjab National Bank, said the deposits crossed Rs 3600 crore, registering a y-oy growth of around 36 per cent while advances touched Rs 3400 crore, registering a y-o-y growth of over 24 per cent. CD ratio in the state stood at 91.25 per cent as on December 2, 2011.

Fourteen more new branches will be opened before next December in the state, he said, adding three branches will be in Kozhikode circle and the rest in Ernakulam circle.

Kozhikode circle of the bank comprises six districts including Kozhikode, Wayanadu, Palakkad, malappuram, Kasargod and Kannur. The cirlce has 81 branches out of which six branches are rural, 59 semi-urban and 16 urban branches, he said.

Source: EconomicTimes