Public reposes lot of confidence in our brand, which stands for trust, transparency and convenience❞
of business processes, organisational restructuring, relook at policies, creating and implementing a strong and scalable target operating model, upgradation of information technology and changing service delivery model, which I believe brings out high productivity of our people.
The revamped business model has transformed the company into a contemporary and customer-oriented organisation with new brand positioning. The BPR exercise resulted in more than twelve-fold increase in our assets under management. The GNPAS declined from 1.31% to 0.22% over the last six years.
Going forward, we expect an expansionled growth story. As on 31st March, 2017, we have 63 branches with presence in 39 cities in India. We plan to open 22 more branches in FY2017-18 across the country to cater to its growing customer base. Additionally, with majority of investments behind us, we expect that the economies of scale will play out and opex-to-ata and cost-to-income ratio to ebb towards sector best. At PNB
Housing, we continue to maintain our GNPAS lower than the industry average. Finally, the robust governance, transparency, ethical practices and compliance shall guide the company in maintaining its stature as a dependable housing finance partner which opens doors to the dreams of home aspirants.