Centurion Bank of Punjab (CKoP), post its merger with Kerala-based Lord Krishna Bank (LKB), plans to leverage LKB's large branch network in Kerala to launch a range of new products. | |
| The combined entity has a balance sheet size of around Rs 23,000 crore, with deposits of approximately Rs 18,000 crore, net advances of approximately Rs 13,000 crore and total business of approximately Rs 31,000 crore, Centurion Bank stated in a release. |
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| The bank said that the merger has further strengthened tis geographical reach in major towns and cities across the country, especially in Kerala. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjab, said, "While the Kerala presence will be significantly enhanced with the conclusion of the merger, we will also continue our focus on accelerated growth in other geographies where we are dominant." |
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| In Kerala, the bank will now expand its operations on a 300,000-strong customer base, and the backbone of a powerful network, which includes 92 branches and extension counters, eight marketing offices, 24 ATMs and supported by over 950 employees. |
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| Customers of the erstwhile Lord Krishna Bank will now have access to over 400 branches and extension counters and 450 ATMs in approximately 180 locations across the country, supported by over 7,500 employees. |
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