Punjab National Bank targets $1.12bln business in 2010

Estimate 21.1% higher than 2009 as lender will give priority to retail, agriculture and MSME sectors.

Punjab National Bank (PNB) has set a target of Rs 5,250-crore ($1.12 billion) business in its Orissa circle during the current financial year. The target is Rs 1314-crore ($280.11 million) (about 33 per cent) more than the bank’s total business in the state last year.

In 2009-10, PNB had achieved Rs 3931 crore business ($837.98 million), which was 21.10 per cent more than the previous year’s record. Out of the Rs 5250 crore ($1.12 billion) target set for the current year, Rs 3600-crore ($767.43 million) will come in the form of deposits while Rs 1650-crore ($351.74 million) will be advances.

The bank had achieved Rs 2669-crore deposits ($568.96 million) and Rs 1262-crore ($269.02 million) advances in 2009-10 registering a growth of 17.45 percent and 29.63 percent respectively. The Credit-Deposit (CD) ratio of the bank was increased from 42.94 percent in 2008-09 to 47.28 percent by the end of March 2010. Like the previous year, the bank will give priority to retail, agriculture and MSME sectors in advances during the current financial year, said BP Ray, head of PNB Orissa Circle.

View the full story in Sify.

Follow the link for more news on

Also Read

OCBC Ignite aims to double poly graduate intake

Singapore’s big banks aim for 96% emissions cut by 2050

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia