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CBOP tie-up with LKB targets NRIs from Kerala
Monday, September 10, 2007

The Centurion Bank of Punjab has announced major plans for the NRIs from Kerala after its merger with the Lord Krishna Bank recently. The bank is emerging as one of the leading private sector banks in India, and is a key player for retail foreign exchange offering an array of products for investors.

Kerala has a unique Gold Loan market which the bank would like to tap, according to the bank’s Managing Director and CEO, Shailendra Bhandari. Centurion Bank grew by 72% over the last year, and talks on the merger have been in progress ever since.

The Bank is looking forward to leveraging on Kerala’s immense NRI resources with top-notch products and services to the NRI community through its network of 92 branches and extension counters, 24 ATMs and 8 marketing offices.

The Bank enjoys a customer base of 3 lakh in Kerala, serviced by 950 employees.

The Centurion Bank – Lord Krishna Bank combine has a net worth of Rs.23,000 crore, with deposits accounting for Rs.18,000 crore, credit worth Rs.13,000 crore, and a business worth Rs.31,000 crore.

Account holders with Lord Krishna Bank will also have access to Centurion’s 400 branches and extension counters and 450 ATMs across the country.

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»New Investment & Remittance Schemes Launched for NRIs in Gulf

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