PNB Housing Finance inaugurates sixth branch in Bengaluru
Bengaluru, June 8, 2017: PNB Housing Finance, the 29-year-old public sector finance company, today inaugurated a new branch at Vijayanagar in southwest Bengaluru as part of its expansion in Karnataka.
With this, theCompany will have six branches in Bengaluru and a total of 17 branches in SouthIndia. The move is in line with the company’s plans to establish its footprintin high-potential regions and gain a bigger market share in South India.
The branch,located at 1125/12, Ground Floor, Service Road, Hampi Nagar, Vijayanagar,Bengaluru, was opened in the presence of Mr. M. Krishnappa, HousingMinister of Karnataka, and Vinod Reddy, DGM - South Zone, PNB Housing Finance.
PNB HousingFinance Business Head and General Manager Shaji Varghese said,“Karnataka has seen resurgent growth in almost all sectors, including realestate and housing. The region has witnessed a rapid influx of people, whichhas resulted in high property demand and propelled investment in both publicand private sector. We plan to capitalise on this robust scenario by openingnew branches in potentially-lucrative areas like Vijayanagar, an upcoming IThub driving the city’s employment index. We want to ensure highest levels ofcustomer service competency and become one of the most admired housing financecompanies in the country.”
PNB HousingFinance has a total of 63 branches across 39 towns and cities. In FY2016-17,the Company sanctioned loans worth INR 23704 crores while the total retaildisbursement was INR 15766 crores. In the current fiscal, the Company plans toopen a total of 23 new branches across India, with a majority of these locatedin western and southern regions.