Centurion BoP targets aggressive growth in Kerala
Centurion Bank of Punjab, one of the leading new generation private sector banks in the country, reiterated its commitment to the State of Kerala, following the successful merger with Lord Krishna Bank (LKB). The combined bank, which will continue to be called Centurion Bank of Punjab, will leverage the large branch network in Kerala to launch compelling new products targeted at the emerging needs of the customers across the State.
This merger has further strengthened the geographical reach of Centurion Bank of Punjab in major towns and cities across the country, especially in the State of Kerala, in addition to its existing dominance in the northern part of the country. Centurion Bank of Punjab is planning to build upon the strong brand attributes of both banks in their respective geographies. In Kerala, the Bank will now have a powerful network, which includes 92 branches and extension counters, 8 marketing offices, 24 ATMs and about 300,000 customers, supported by over 950 employees. 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.
The 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. They will also benefit from the Bank’s state-of-the-art technology architecture that provides easy access and superior customer service, and can avail of a complete suite of financial products and services including Wealth Management, Liabilities, Assets and Foreign Exchange Services.
Speaking on the occasion, Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjab said, “We are delighted that this merger has given us a significant presence in Kerala. We will leverage the synergies created by this merger and offer the finest banking products to the people of the State of Kerala. At the same time we will continue our focus on accelerated growth in other geographies where we are dominant. We are committed to create a world class new generation private sector Bank with a pan India presence.”
With its in-depth coverage in Kerala, Punjab and Delhi NCR, Centurion Bank of Punjab will serve about 4 million customers and focus on its strengths in the retail, SME, agricultural and NRI segments.