Kolkata: New generation Centurion Bank of Punjab (CBOP) has decided to focus on retail and SME sectors for growth, an official of the bank said on 25 April.
Shailendra Bhandari, managing director and CEO, CBOP said a majority of the loans and advances are given to the retail sector, followed by the SME segment. He said that CBOP is probably the first new generation private sector bank to pursue a strategy of both inorganic and organic growth.
While Centurion Bank had merged Bank of Punjab with itself earlier, CBOP is now awaiting the approval of the Reserve Bank of India for the Kerala-based Lord Krishna Bank (LKB) merger.
With the current number of branches at 279, the LKB merger would raise it to 403 and would also find a dominant presence of the bank in the south. Bhandari said that CBOP would issue fresh capital to the shareholders of LKB for extinguishing shares of the Kerala-based bank.
Post LKB merger, the business of the bank would also increase by Rs4,000 crore. The ban is also in the process of floating a separate entity for trust management in association with solicitor and accounting firms.