PNB Housing Finance inaugurates new branch at Fort, Mumbai

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PNBHFL- Branch opening - Photo By GPN

PNBHFL- Branch OpeningPhoto By GPN

~ Increases branch network in Western India to 37 

MUMBAI, SEPTEMBER 11, 2019 (GPN): PNB Housing Finance (PNBHFL), the country’s fifth-largest housing finance company by Loan Assets and second largest by deposits, inaugurated its new branch in Fort area of Mumbai, taking the total number of branches in the western region to 37 and across India to 105. This branch predominantly will be focused around concentrated Fixed Deposits business opportunity of this micro market.

The new branch was inaugurated by Mr Sanjaya Gupta, Managing Director, PNB Housing, along with the company’s regional head. The branch is located at Shop Nos.4, 5 and 6, Ground Floor, Wadia Building, Dalal Street, Fort, Mumbai 400001.

PNB Housing Finance Managing Director Sanjaya Gupta said, “We, at PNB Housing, constantly endeavour to offer best possible products and services to our customers including Fixed Deposits, with help of both – technology and physical touchpoints. Fort is a strategically chosen location to serve diverse set of customers including the broker community. The expansion of branch network will enable us to offer our diverse retail portfolio to potentially new customers and accelerate our growth.”

Western India has traditionally been the stronghold of PNB Housing and the addition of yet another branch in the region, particularly in the financial district of south Mumbai, will further strengthen its housing finance business.

PNBHFL expanded its assets under management to Rs 88,333 crore as on June 30, 2019, while the total disbursement in the first quarter FY20 stood at Rs 7,634 crore. The Company is currently in the process of optimising operations at all its branches, which will have a significant impact on productivity and growth.

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. PNB Housing Finance is a deposit taking Housing Finance Company.

Safe Harbour Statement 

No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this release is only current as of its date. Certain statements made in this release may not be based on historical information or facts and may be “forward looking statements”, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions in India. This communication is for general information purpose only, without regard to specific objectives, financial situations and needs of any particular person. This release does not constitute an offer or invitation to purchase or subscribe for any shares in the Company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. The Company may alter, modify or otherwise change in any manner the content of this release, without obligation to notify any person of such revision or changes. This release cannot be copied and/or disseminated in any manner.

 

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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