Bandhan will continue to focus on poor, even after it becomes a bank
Updated: Jun 05, 2014 12:48:37pm
Kolkata, Jun 5 (KNN) Bandhan Financial Services, a microfinance institution which has been granted provisional bank licence by the Reserve Bank of India, will not shy away from the poor even after it becomes a bank.
The institution’s already existing operational geography in rural areas could provide opportunity for deposit mobilisation too, Chairman and Managing Director of Bandhan, Chandra Shekhar Ghosh said, according to a media report.
He said small and tiny businesses, which Bandhan has served so far, are in the process of graduating to bigger firms, fit for a banker’s portfolio.
“We have captive deposit areas too. For scaling up, of course, we would tap the rich, the urban middle-class and youth who are just on the threshold of becoming bankable,” he adding while addressing at an interaction organised by the MCC Chamber of Commerce and Industry here yesterday.
Bandhan CMD further said that the institution banking incarnation will not shy away from the poor. He said much of Bandhan’s established credit delivery model, spread of network in rural hinterland, particularly in the east and the north-east, relationship-based financing, and recovery system would be extended to the proposed bank.
After turning into a bank, Bandhan, has plans to float an IPO (initial public offering) within three years. (KNN/SD)
The institution’s already existing operational geography in rural areas could provide opportunity for deposit mobilisation too, Chairman and Managing Director of Bandhan, Chandra Shekhar Ghosh said, according to a media report.
He said small and tiny businesses, which Bandhan has served so far, are in the process of graduating to bigger firms, fit for a banker’s portfolio.
“We have captive deposit areas too. For scaling up, of course, we would tap the rich, the urban middle-class and youth who are just on the threshold of becoming bankable,” he adding while addressing at an interaction organised by the MCC Chamber of Commerce and Industry here yesterday.
Bandhan CMD further said that the institution banking incarnation will not shy away from the poor. He said much of Bandhan’s established credit delivery model, spread of network in rural hinterland, particularly in the east and the north-east, relationship-based financing, and recovery system would be extended to the proposed bank.
After turning into a bank, Bandhan, has plans to float an IPO (initial public offering) within three years. (KNN/SD)
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