PNB shows 24% growth in Uttarakhand

The Punjab National Bank (PNB), India’s second largest bank, has done a business of Rs 14500 crore till December, 2011, registering a growth year-on-year growth of 24 per cent in Uttarakhand.

Deposits in the hill state reached Rs 9568 crore, registering a year-on-year growth of 25 per cent, while advances touched Rs 4978 crore with a growth of 25 per cent. Credit deposit ratio in the state stood at 52 per cent which was far less than the national average of 73 per cent.

“We may be lacking in credit deposit ratio but we are hopeful that it will improve,” said Usha Ananthasubramanian, Executive Director of PNB.

In Uttarakhand, the bank has 190 branches. It is planning to open 10 more during this financial year.

Out of the 190, 100 branches are in rural areas, 47 are in semi-urban areas and 43 branches in urban areas. The PNB has 193 ATMS in the state.

Under the financial inclusion programme, the PNB would cover 4574 villages with population of over 2000 by March 2012. Out of these, the bank has already covered 2318 villages till December, 2011.

Under the PNB Vikas scheme, the bank has adopted Dhanpau village under block Lakhwar and Gevla under block Dunda for its integrated development. The main activities undertaken by the Bank include setting up of a library, construction of community centres. Besides, the bank has distributed dressed to students.

In Dehradun circle, the bank has already financed 2058 Self-help groups [SHGs].