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PNB posts 17.31% growth in Kerala

Kozhikode: The Punjab National Bank (PNB) has registered 17.31 per cent growth in business in the Kerala Circle last fiscal. The bank did business to the tune of Rs.3,022 crore, excluding high cost deposits.

The increase in business elevated PNB to the 14th position among banks in the State. “Our aim is to improve our position further,” Krishnan Ramaiah, head, PNB Kerala Circle, said at a press conference in Kozhikode on Wednesday. PNB, the third biggest bank in the country in terms of business, had already improved its position compared to last year, he said.

To speed up growth PNB would open 12 more branches in Kerala this year, Mr. Ramaiah said. PNB’s performance shows an improvement on many counts. Its credit-deposit ratio in the State was an impressive 82.24. Last year, it was only 77.30 per cent. Deposits in the Kerala Circle at the end of March 2008 came to Rs.1,661.21 crore. It was 1,369.52 crore at the end of March 2007.

Lending to priority sector also rose to Rs.863.19 crore which is 20.66 per cent more than the previous fiscal. Volume of agricultural loans went up by as much as 44.18 per cent to Rs.179.25 crore.

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PNB posts 17.31% growth in Kerala

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