Centurion Bank of Punjab targets growth in Kerala

Centurion Bank of Punjab (CBoP), the private sector bank in to which Lord Krishna Bank (LKB) got merged recently, plans to build a larger branch network in Kerala.

CBoP will now have 92 branches and extension counters, 8 marketing offices, 24 ATMs and about 300,000 customers, supported by over 950 employees in Kerala.

The combined entity has a balance sheet size of around Rs. 23,000 crores, with deposits of approximately Rs. 18,000 crores, net advances of approximately Rs. 13,000 crores and total business of approximately Rs. 31,000 crores.

Financial products and services available will include Wealth Management, Liabilities, Assets and Foreign Exchange Services, among others.

With its in-depth coverage in Kerala, Punjab and Delhi NCR, CBoP will have a customer base of around 4 million customers. The bank will focus on its strengths in the retail, SME, agricultural and NRI segments.