PNB Housing Finance strengthens foothold in Karnataka

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 newbranch has been inaugurated by Mr. Vinod Reddy, GM & Zonal Business Head,South and Mr. Sunil C, Regional Business Head, Karnataka PNB Housing Financealong with other dignitaries. 

PNB HousingFinance Executive Director and Business Head Shaji Varghese said, “Southis a key focus region for PNB Housing. Within the states, Karnataka is leadingthe growth of PNB Housing in southern markets, contributing more than 50% ofthe company’s southern retail business. The continuous expansion in Karnatakais aimed at strengthening PNB Housing’s footprint in high-potential andhigh-demand regions. Expansion is the engine of growth for the next few fiscalsand Bangalore will remain a significant an integral part of our expansionstrategy.” 

Significantly,Indira Nagar Branch is the 3rd new branch that PNB Housing hasopened 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 HousingFinance has a total of 71 branches across 39 towns andcities. In FY2016-17, the Company sanctioned loans worth INR 23704crores while the total retail disbursement was INR 15766 crores.In the current fiscal, the Company plans to open a total of 23 new branchesacross India, with a majority of these located in western and southern regions.

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