~ 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.
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