PNB increases loan limits by Rs 750 mn for S.E. Investments

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S.E.Investments Ltd., a leading financial services company with particular stress on micro credit, today announced that Punjab National Bank , one of the company's major credit loan providers, has enhanced the Fund Based Limit from Rs. 300 million to Rs. 450 million and sanctioned Term Loan of Rs. 600 Million.

 

This increase will enable S.E.Investments to cater to more customers thereby helping it widen its clientele-base. It also indicates the company's rapid growth and promising future.

S.E. Investments registered positive figures in the quarter ending June 30, 2010. The company's PAT jumped by 227.55% to Rs Rs 1705.61 lacs against Rs 520.72 lacs in the same period in the previous fiscal. Its Net Income from Operations stood at Rs 4055.87 lacs, a massive hop of 135.60% from Rs. 1721.52 lacs last year.

Commenting on the occasion, Mr. Sunil Agarwal, Managing Director of S. E. Investments Ltd. said, "We are pleased by the increase in term loan granted to us by Punjab National Bank. It will help us widen our markets and increase our customer-base. This is, indeed, motivating for our team and we are committed to provide superior microfin services to the people."