Private sector banks record rapid growth in Kerala

Mumbai: Private sector banks in Kerala witnessed rapid growth between October-December 2003, by enlarging their customer-base compared to their state-owned counterparts by attracting a large number of customers.

While the 19 nationalised banks, barring the banks under the State Bank group, with 1,181 branches have a deposit of Rs.202.52 billion, the 21 private sector banks with 1,057 branches have a deposit base of Rs.195.09 billion.

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 Rs.206.88 billion.

Of the 1,057 branches of the 21 private sector banks, five Kerala headquartered banks -- Federal Bank, South Indian Bank, Catholic Syrian Bank and Lord Krishna Bank account for the major share.

The private sector banks with 364 branches are also ahead in terms of the number of rural branches of the nationalised banks, which have just 104 rural branches and the State Bank group, which has the least - just 94 branches.