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Private sector banks witness rapid growth in Kerala
Wednesday, 14 April 2004, 19:30 IST
THIRUVANANTHAPURAM: Private sector banks in Kerala are posing a stiff competition to their state-owned counterparts by attracting a large number of customers, figures showed Wednesday.
According to figures released by the State Level Bankers Committee for the third quarter of the last financial year, the six State Bank group banks with 804 branches in the state have a total deposit of 
206.88 billion.
While the 19 other nationalised banks with 1,181 branches have a deposit of 202.52 billion, the private sector banks with 1,057 branches have a deposit worth a staggering 195.09 billion.
Of the 1,057 branches of 21 private sector banks, five Kerala headquartered banks -- Federal Bank, South Indian Bank, Catholic Syrian Bank and Lord Krishna Bank account for the lions share.
"The gap is closing fast and very soon we would overtake both the nationalized and the State Bank group both in terms of number of branches and total deposits," said a top private sector bank official.
"Our services to the customers are far better than the service offered by the other two."
In the total non-resident deposits, the gap is narrowing between the private sector banks on the one hand and the nationalised and State Bank group banks on the other.
The private sector banks are also ahead in terms of the number of rural branches with 364 offices. The nationalised banks have just 104 rural branches and the State Bank group 94.
Source: IANS
206.88 billion.
While the 19 other nationalised banks with 1,181 branches have a deposit of 202.52 billion, the private sector banks with 1,057 branches have a deposit worth a staggering 195.09 billion.
Of the 1,057 branches of 21 private sector banks, five Kerala headquartered banks -- Federal Bank, South Indian Bank, Catholic Syrian Bank and Lord Krishna Bank account for the lions share.
"The gap is closing fast and very soon we would overtake both the nationalized and the State Bank group both in terms of number of branches and total deposits," said a top private sector bank official.
"Our services to the customers are far better than the service offered by the other two."
In the total non-resident deposits, the gap is narrowing between the private sector banks on the one hand and the nationalised and State Bank group banks on the other.
The private sector banks are also ahead in terms of the number of rural branches with 364 offices. The nationalised banks have just 104 rural branches and the State Bank group 94.
Source: IANS