Punjab
National Bank to open two NRI branches in Kerala
Our
Banking Bureau
31 March 2003
 Thiruvananthapuram:
Punjab National Bank (PNB), which took over Nedungadi
Bank recently, is planning to open two specialised non-resident
Indian (NRI) branches in Kerala as part of its post-merger
business strategy for the state.
The
branches are likely to be located in Malappuram and Thrissur
districts, says PNB deputy general manager N P G Nampoothiri.
On
top of the bank’s list of priorities is reduction
of the non-performing assets (NPAs) of the erstwhile Nedungadi
Bank, which are currently over 27 per cent. The focus
will be on account-specific tackling to bring down the
level of NPAs to that of the bank’s national average
of 5.5 per cent, says Nampoothiri.
 Another
major item on the bank’s agenda is to network all
the 129 branches in Kerala and link them to PNB’s
centralised banking solution in order to provide ‘anywhere
banking’ facility to customers in the state.
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