Punjab National Bank inaugurates mid-corporate branch in Kalyani Nagar
Indian Express: Punjab National Bank (PNB) has opened its mid-corporate branch in Kalyani Nagar here, which will cater to small and medium scale industries.
It will be a single window counter that will process a loan amount from Rs 5 crore to Rs 25 crore as per the need of customer. The bank has 15 mid-corporate branches and 7 large corporate branches across the country.
Addressing a press conference here on Tuesday, KR Kamath, chairman and managing director, PNB, said that the bank has sought RBI permission to open 11 more branches in the state.
“ Now we have total of 153 branches covering 24 districts in Maharashtra with three circles Mumbai, Pune and Nagpur. Pune circle covers 14 districts of which we have branches in 14 districts. One more branch will be opened soon at Karad in Satara district,” he said.
Maharashtra contributes about 11 per cent share of the total business of the bank with a business figure of Rs 42,242 crore which include deposits of Rs 12636 crore and advances of Rs 29,606 crore. The total business of Pune circle stood at Rs 3115 crore as at the end of November 13 from Rs 2854 crore corresponding period last year registering a growth of 9.1 per cent.
Kamath said that in Pune the bank is making arrangements for bulk financing of Bajaj CNG vehicles to individuals for 600 vehicles. “An Memorandum of understanding has already been signed between PNB and Bajaj Auto Ltd.
However, the same will get fructified once the state government releases the licenses for the CNG auto rickshaws in Pune city,” he said.
He said that to encourage banking habit in lower strata of the society the bank has provided the facility of zero balance PNB Mitra accounts, with no service charges to be levied. The Pune circle has opened around 11000 PNB Mitra accounts. “We will also increase the number of ATMs Pune circle from 53 to 92. Through internet banking we have facilated around 20,000 customers while there are around 1 lakh credir card users,” he added.
PNB had registered a net profit of Rs 1795 crore during the half year ending September 2009 with an year-on-year growth of 44.2 per cent over Rs 1219 crore in the corresponding period last year. Operating profit grew by 35.1 per cent to Rs 3176 crore as compared ro Rs 2350 crore during the corresponding period last year.
The total business of the bank registered a growth of 24. 5 per cent with Rs 3.94 lakh as against Rs 2.17 lakh same period last year. Credit to agriculture rose by 20.5 per cent y-o-y to Rs 25000 crore while credit to SMEs grew by 74.8 per cent to reach above Rs 23450 crore.
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