The Hindu Business Line : Centurion Bank to focus on NRIs in Kerala

Kochi, Sept. 7 Centurion Bank of Punjab (CBOP), which had recently merged with the Kerala-based Lord Krishna Bank, has chalked out ambitious plans for the State with a focus on NRIs.

The NRI population from the State is the immediate priority , Mr Shailendra Bhandari, Managing Director and CEO of the bank, said.

“We are a major player in the country in retail foreign exchange with excellent product offering”, he said at a press meet here on Thursday.

Besides, the bank would study certain products which are unique to Kerala market such as gold loan products, he added.

Referring to the merger with LKB, Mr Bhandari said it strengthened the geographical reach of CBOP in major towns and cities across State.

“We are delighted that this merger has given us a significant presence in Kerala. We will leverage the synergies created by this merger and offer the finest banking products to the people of the State.” The combined bank, which will continue to be called as Centurion Bank of Punjab, will leverage the large branch network in the State. “We are committed to create a world-class new generation private sector bank with a pan India presence.”

He clarified that there will not be any relocation of branches and the bank will now have a powerful network, which includes 92 branches and extension counters, 8 marketing offices, 24 ATMs and about 300,000 customers supported by 950 employees.

The combined entity, he said, has a balance sheet size of around Rs 23,000 crore with deposits of approximately Rs 18,000 crore, net advances of about Rs 13,000 crore and total business of about Rs 31,000 crore.

The customers of the erstwhile LKB will now have access to over 400 branches and extension counters and 450 ATMs in approximately 180 locations across the country supported by over 7,500 employees.

More Stories on : Private Banks | NRIs | Kerala

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