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Our Bureau

Kochi, Nov. 6 The Punjab National Bank, Kerala Circle, has achieved a 16.85 per cent growth in the first six months of the current fiscal.

The total business of the zone touched Rs 3,273 crore against Rs 2,802 crore in September 2007.

Mr Krishnan Ramiah, Kerala Circle Head of PNB, said that deposits increased to Rs 1,862 crore, a 23.59 per cent growth from Rs 1,506 crore in September 2007. The advances stood at Rs 1,412 crore (Rs 1,295 crore).

The priority sector advances increased to Rs 875 crore (Rs 783 crore) in September 2008. The ratio of priority sector advances to net bank credit is much higher at 62 per cent against national goal of 40 per cent, he said.

The retail credit increased to Rs 773 crore at the end of September 2008 from Rs 576 crore in September 2007, registering a growth of 34.19 per cent.

The bank continues to offer the cheapest housing loans at the rate of 9.5-11 per cent and auto loans at the rate of 12 – 12.5 per cent. The education loan, which is the main thrust area of the bank, grew by 67.85 per cent.

In Kerala, all the 132 branches are networked under CBS. New branches are being opened at Edapally in Ernakulam district and Kovur in Kozhikode district.

A total of 41 ATMs are functioning in the State and about 10 more are to be opened shortly, he said.

The bank continues to expand in international markets.

It is present in Dubai, the UK, Hong Kong, Shanghai, Singapore and Kabul. Due to the well laid out policies of the bank, the international operations have not been impacted adversely in the current scenario, he added.

More Stories on : Outlook | Kerala | Punjab National Bank

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