The Hindu Business Line : PNB’s Kerala circle achieves 17% growth in business

Kochi, May 22 Punjab National Bank, Kerala Circle has registered a 17 per cent growth in its total business in March 2008, which stood at Rs 3,022 crore against Rs 2,576 crore in March 2007.

The deposits of the circle had also registered a growth of 20 per cent, amounting to Rs 1,661.21 crore compared with Rs 1,369.82 crore in March 2007. Low-cost deposits were at 38.04 per cent of total deposits, Mr Krishnan Ramiah, Circle Head, Kerala, said in a press release.

The advances of the zone increased by Rs 1,366.12 crore compared with Rs 1,206.52 crore at the end of March 2007, thereby registering a growth of 13.23 per cent. The CD ratio of the Kerala circle works out to 82.24 per cent for 2007-08 against 77.20 per cent during the previous year 2006-07, he said.

The retail credit amounted to Rs 956.22 crore from Rs 712.27 crore, a growth of 34.25 per cent.

The priority sector advances increased from Rs 715.40 crore in March 2007 to Rs 863.19 crore in March 2008, a growth of 20.66 per cent. The ratio of priority sector advances to net bank credit is much higher at 63.19 per cent against national goal of 40 per cent.

The credit to agriculture increased to Rs 179.25 crore from Rs 124.32 crore, a growth of 44.18 per cent.

Agriculture is one of the thrust areas of the bank for the current year, Mr Ramiah said.

The education loans amounting to Rs 3,245.85 lakh were disbursed during the year 2007-08. The bank is targeting 10,000 students in the State this year. On publication of the CET results, the bank will be approaching the students with an offer for loans, he added.

He pointed out that the performance of the bank in the State has been impressive and it has removed the one layer from its organisational structure and adopted a 3-tier structure against the earlier 4-tier one.

More Stories on : Performance | Public Sector Banks | Kerala | Punjab National Bank

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