Inaugurates 8th branch at Bengaluru, taking the total branch network in South India to 21
Bengaluru, August 18, 2017: PNB Housing Finance, 5th largest housing finance company, today announced the inauguration of its new branch at Bengaluru. The new state-of-the art facility is located at PNB Housing Finance Ltd, Maruthi Plaza, 100ft ring road, Indira Nagar in Bangalore. With this, the company will now have 21 branches in South India.
The new branch has been inaugurated by Mr. Vinod Reddy, GM & Zonal Business Head, South and Mr. Sunil C, Regional Business Head, Karnataka PNB Housing Finance along with other dignitaries.
PNB Housing Finance Executive Director and Business Head Shaji Varghese said, “South is a key focus region for PNB Housing. Within the states, Karnataka is leading the growth of PNB Housing in southern markets, contributing more than 50% of the company’s southern retail business. The continuous expansion in Karnataka is aimed at strengthening PNB Housing’s footprint in high-potential and high-demand regions. Expansion is the engine of growth for the next few fiscals and Bangalore will remain a significant an integral part of our expansion strategy.”
Significantly, Indira Nagar Branch is the 3rd new branch that PNB Housing has opened in the city within just 3 months of the current fiscal. Earlier in June, the company opened two new branches at Kasturi Nagar and Vijaynagar.
PNB Housing Finance has a total of 71 branches across 39 towns and cities. In FY2016-17, the Company sanctioned loans worth INR 23704 crores while the total retail disbursement was INR 15766 crores. In the current fiscal, the Company plans to open a total of 23 new branches across India, with a majority of these located in western and southern regions.
About PNB Housing Finance Limited
PNB Housing Finance Limited (NSE: PNBHOUSING, BSE: 540173) is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The Company got listed on the Indian stock exchanges on 7th November, 2016. The Company offer its retail customers “housing and non-housing loans”. The Company is also into construction finance loans to real estate developers for residential housing. PNB Housing Finance is a deposit taking Housing Finance Company.
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