BANK OF PUNJAB

The Bank of Punjab made its debut in 1989 following The Bank of Punjab Act 1989. It became a scheduled bank from 1994. Since then it is in operation as a scheduled commercial banks having a network of 271 branches in the all the important trading Centres of India. The main pillar of the Bank of Punjab is its focus on agriculture this being the backbone of the countrys economy.

CENTURION BANK
Centurion Bank in 1994 was incorporated on 30 June 1994 and received its certificate of Commencement of Business on 20 July. It was a joint venture between 20th Century Finance Corporation and its associates and Keppel Group of Singapore through Kephinance Investment (Mauritius). IN1995 Centurion Bank amalgamated 20th Century Finance Corporation. On 29 June 2005, the Boards of Directors of Centurion Bank and Bank of Punjab agreed to a merger of the two banks. The combined bank took as its name Centurian bank of Punjab.

CENTURION BANK OF PUNJAB

Centurion Bank of Punjab was formed by the merger of Centurion Bank and Bank of Punjab both the banks had strong retail franchises in their respective markets. The bank main aim is

to provide all the banking and financial needs of its customers through multiple delivery channels, using latest technology.

SERVICE PROVIDED :The bank offers a full suite of NRI banking products to overseas Indians. The bank has range of wealth management schemes such as mutual funds and life and general insurance for its customers. The bank provides services for individual consumers, small and medium businesses and large corporations with a full range of financial products and services for investing, lending and advice on financial planning through its strong network of the branches. It is pioneer in the two-wheeler loan and commercial vehicle loan segment; it is a strong player in foreign exchange services, personal loans, mortgages, education loans and agricultural loans, and credit cards.

CENTURION BANK OF PUNJAB - MERGER PRIVATE BANKS ARE TAKING TO THE CONSOLIDATION ROUTE IN A BIG WAY. BANK OF PUNJAB (BOP) AND CENTURION B ANK (CB) HAVE BEEN MERGED TO FORM CENTURION BANK OF PUNJAB (CBP). RBI HAS APPROVED MERGER OF CENTURION BANK AND BANK OF PUNJAB EFFECTIVE FROM O CTOBER 1, 2005. THE MERGER IS AT A SWAP RATIO 9:4 AND THE COMBINED BANK IS WILL BE CALLED CENTURION B ANK OF P UNJAB . THE MERGER OF THE BANKS WILL HAVE A PRESENCE OF 240 BRANCHES AND EXTENSION COUNTERS , 386 ATM S, ABOUT 2.2 MILLION CUSTOMERS . AS ON M ARCH 2005, THE NET WORTH OF THE COMBINED ENTITY IS RS 696 CR. AND THE CAPITAL ADEQUACY RATIO IS 16.1 PER CENT IN THE PRIVATE SECTOR , NEARLY 30 BANKS ARE OPERATING . THE TOP FIVE CONTROL NEARLY 65% OF THE ASSETS . MOST OF THESE PRIVATE SECTOR BANKS ARE PROFITABLE AND HAVE ADEQUATE CAPITAL AND HAVE THE TECHNOLOGY EDGE . DUE TO INTENSIFYING COMPETITION , ACCESS TO LOW -COST DEPOSITS IS CRITICAL FOR GROWTH. THEREFORE , SIZE AND GEOGRAPHICAL REACH BECOME THE KEY FOR SMALLER BANKS. THE CHOICE BEFORE SMALLER PRIVATE BANKS IS TO MERGE AND FORM BIGGER AND VIABLE ENTITIES OR MERGE INTO A BIG PRIVATE SECTOR BANK .