• Home
• /
• Finance
• /
• Business

Nearly 40% of NRK deposits in Kerala banks from UAE

Thiruvananthapuram - The State Level Bankers Committee report said the total deposit was Dh65 billion -- an almost 25 percent jump from Dh 52 billion as on June 30, 2014.

The deposits made by Non Resident Keralites (NRK) in Kerala banks crossed the Dh55 billion mark by June 30 this year, according to a report released here on Tuesday.
The State Level Bankers Committee report said the total deposit was Dh65 billion -- an almost 25 percent jump from Dh 52 billion as on June 30, 2014.
NRI deposits in the Kerala banks have been growing over the years. They totalled Dh42 billion on June 30, 2013.
The latest study report of S. Irudayarajan said 90 per cent of Kerala's 2.36 million diaspora is working in Middle-East countries, of which United Arab Emirates accounts for 38.7 per cent, followed by Saudi Arabia at 25.2 per cent.
Kerala's bank State Bank of Travancore led the field with NR deposits of Dh15 billion followed closely by Federal Bank with Dh13 billion.
The report said that in Kerala, the total number of branches of all the banks put together stand at 6,010 with 7,951 ATMs.
The total bank deposits in Kerala as on June 30, 2015 stood at Dh183 billion-- up from Dh158 billion in June 2014.