PNB Orissa circle business up 49.37%

The Orissa circle of Punjab National Bank (PNB) has recorded a turnover of Rs 3,240 crore in 2008-09, a 49.37 per cent rise over Rs 2,169 crore achieved by the bank in 2007-08, according to media reports.

PNB made a profit of Rs 56 crore for 2008-09 against the target of Rs 52 crore in Orissa. The bank has proposed to open six more branched in the state by June this year. The bank has achieved its target in Orissa.

The bank would give emphasizing on disbursement of advances to sectors like agriculture and Small and Medium Enterprises (SMEs). The bank has provided Rs 175 crore to the agriculture sector and Rs 275 crore to the SMEs in 2007-08. The bank has proposed to open its branches at Aska in Ganjam district, Dhenkanal, Sonepur, Banei, Kendrapara and Nayagarh.