Punjab National Bank (PNB) will enhance its total business in Kerala to over Rs 5,000 crore in the current financial year, from Rs 4,700 crore in 2009-10. The bank has also set a target of Rs 1,000 crore in NRE deposits from the current level of Rs 300 crore.
Addressing a press conference here on Thursday, KR Kamath, chairman and managing director of PNB, said the bank was currently on a brand-building process in the state to familiarise Keralites with the bank. More branches would be opened to add to its current 140 branches with two circles and 55 ATMs.
As on June 18, the bank's total business in Kerala stood at Rs 4,680 crore, registering a year-on-year growth of 29 per cent. Deposits reached Rs 2,480 crore, an increase of 20 per cent, and advances crossed Rs 2,200 crore, up 40 per cent over last year. The credit-deposit ratio of the bank in Kerala stood at 88.70 per cent.
Kamath said the bank had already opened 2,500 savings fund linkage of selfhelp groups, of which credit linkage had been done in 2,182 cases. PNB has appointed 25 business facilitators in Kerala as part of its financial inclusion initiative.