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Kochi , Feb. 8

WITH a renewed focus on the retail sector, IndusInd Bank plans to balance its retail/corporate credit portfolio at 50:50 by March 2006.

Currently, the bank has just 30 per cent of its credit portfolio in the retail sector, while the wholesale sector constitutes the remaining 70 per cent, said Mr Varghese Thampi, Head of Retail Banking and Senior Vice-President. With the change in strategy, the bank is on a branch expansion spree to reach out to more customers.

The bank's network of 61 branches is poised to more than double to 132 at the end of the current year. The bank has already increased its branch network to 103 and another 29 more branches will be added in the coming months. The accelerated pace in branch expansion was rendered possible by the merger of Ashok Leyland Finance with the bank and acquisition of their premises, Mr Thampi added.

The merger of the profit-making NBFC has also added on to the customer base of the bank substantially, from three lakh jumped to eight lakh post-merger.

As a part of its branch expansion, the bank opened its Kottayam and Alappuzha branches in Kerala on Monday, while the Kannur branch was opened couple of days ago.

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