The Hindu Business Line : ING Vysya Bank plans 56 more branches

Hyderabad, Sept. 26 ING Vysya Bank will be adding 56 new branches to its existing 400 branches across the country before the end of this financial year.

The bank would also open 100 new ATMs out of which 26 would be in Andhra Pradesh, Mr Uday Sareen, Country Head (Retail), ING Vysya Bank told newspersons after inaugurating 11 ATMs in different parts of city here on Friday.

Most of the new branches would be opened in northern, western and eastern regions as the bank already has “a very strong presence in the South,” he said. Andhra Pradesh alone accounts for 25 per cent of its total business (Rs 35,000 crore), he said.

``While there are some challenges in the retail segment for the industry, we continue to focus on home loans and personal loans,” Mr Sareen said.

As a strategy, ING Vysya would focus on further expanding its retail portfolio (which accounted for 54 per cent as on June 30, 2008).

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