Bandhan Bank reaching out to south India with 14 branches
Updated: Jul 23, 2015 12:43:44pm
The new branches will be operational from August 23 the same day the bank commences its nationwide operations. The bank will start with a Rs 11,000-crore book, capital of Rs 3,200 crore, 500-600 branches and 250 ATMS across India.
Ghosh said south India has been an uncharted territory for Bandhan’s microfinance business, where the bank sees great potential to offer financial services to all sections of society.
The bank is expecting to increase the number of branches to about 100 in South India over the next two-three years, he added.
President Pranab Mukherjee will launch the bank in Kolkata on August 23.
The International Finance Corporation, Singapore government-backed GIC and state-run Small Industries Development Bank of India (SIDBI) have invested a total of Rs 1,020 crore in Bandhan Bank. (KNN Bureau)