Punjab National Bank, (PNB) the public sector lender has crossed the total business to the tune of Rs 7,000 crore in the state of Kerala. With this the bank has registered a y-o-y growth of around 30 percent as on December 02, 2011.
The deposits for the bank crossed Rs 3,600 crore, registering a y-o-y growth of around 36 percent while advances touched Rs 3,400 crore, registering a y-o-y growth of over 24 percent. Certificate of Deposit (CD) ratio in the state stood at 91.25 percent as on December 2, 2011.
Further, the bank is in process of opening fourteen more new branches before next December in the state. Out of this, three branches will be in Kozhikode circle and the rest in Ernakulam circle. Kozhikode circle of the bank comprises six districts including Kozhikode, Wayanadu, Palakkad, Malappuram, Kasargod and Kannur. The circle has 81 branches out of which six branches are rural, 59 semi-urban and 16 urban branches.
Recently, the public sector lender had launched a special savings account scheme - PNB Shikshak Saving Account scheme in Kerala - for disbursement of salary of Government school teachers.
