PNB Housing Finance expands branch footprint

The branch was inaugurated in the presence of KP Natarajan, MD, KPN Travels India, Mariappan, Director SPC and Kathirvel Subbiah, Regional Business Head - Tamil Nadu, PNB Housing Finance Limited. With this, the company will have five branches in TN and a total of 19 branches in South.

The expansion in the small district like Salem aims to establish its footprint in high-potential regions and gain a bigger market share in South India. 

PNB Housing Finance Business Head and GM Shaji Varghese said, “Tamil Nadu is one of the key regions for PNB Housing. The state contributes close to one-fourth of PNB Housing’s South retail business. The recent announcement to introduce a new housing policy is expected to give a major thrust to the housing sector in the state. We see more positive consumer sentiments with regards to further investment in the sector. We plan to capitalise on this robust scenario by affirming our presence through opening new branches in key areas.”

PNB Housing Finance has a total of 66 branches across 39 towns and cities. In FY2016-17, it sanctioned loans worth INR 23704 crores while the total retail disbursement was Rs 15766 crore. In the current fiscal, it plans to open a total of 23 new branches across India, with a majority of these located in western and southern regions.