Axis Bank to open SME branch in Sriganganagar; third in Rajasthan
Updated: Oct 11, 2014 03:03:47pm
Jaipur, Oct 11 (KNN) The third largest private sector lender, Axis Bank is putting a lot of focus on the MSMEs as it has plans to set up another Small and Medium Enterprises (SME) centre in Sriganganagar in Rajasthan next year.
Currently, the bank has two centres in the state, one each in Jaipur and Jodhpur and a SME cell in Sriganganagar which can only process loans.
The SME centres are designed to fast-track credit disbursal and the lender currently operates from 42 SME centres and 17 SME cells across the country, reports media.
According to the President, SME Banking of Axis Bank, Rajendra Adsul, the lender's SME portfolio has achieved compound annual growth rate of 26 per cent over last five years and is expected to better the industry growth in the current year as well.
The Bank has grown its MSME portfolio to Rs 1,029 crore in the region and has a customer base of 800.
“SME business thrives on relationship building and nurturing the entrepreneurial talent available and has been a key focus area for Axis Bank,” added Adsul. (KNN/SD)
Currently, the bank has two centres in the state, one each in Jaipur and Jodhpur and a SME cell in Sriganganagar which can only process loans.
The SME centres are designed to fast-track credit disbursal and the lender currently operates from 42 SME centres and 17 SME cells across the country, reports media.
According to the President, SME Banking of Axis Bank, Rajendra Adsul, the lender's SME portfolio has achieved compound annual growth rate of 26 per cent over last five years and is expected to better the industry growth in the current year as well.
The Bank has grown its MSME portfolio to Rs 1,029 crore in the region and has a customer base of 800.
“SME business thrives on relationship building and nurturing the entrepreneurial talent available and has been a key focus area for Axis Bank,” added Adsul. (KNN/SD)
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