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Newly-opened private sector lender Bandhan Bank on Thursday said it plans to open 105 more branches in the next five months as part of its expansion drive.
“We would like to see 628 branches by end of March 2016,” Bandhan Bank CEO and Managing Director Chandra Shekhar Ghosh said here.
The bank, which started operations on August 23, has 523 branches at present.
Around 70 per cent of the branches are in rural India while 30 per cent are in unbanked rural pockets with 83 lakh customers.
State-wise, West Bengal has the maximum number of branches, followed by Bihar and Assam.
On whether lowering of small savings rates will help new banks, he said that it will make interest rates on fixed deposit more attractive and banks will gain as retail money will flow into banks. The Finance Ministry had last week said it would review small savings schemes, including PPF and post office deposits.
Ghosh said the bank is not looking to raise additional capital as it already has enough funds to fuel growth for the next three-four years. “We have ₹2,700 crore capital and another ₹500 crore is coming in few months time. So, I hope it is good enough to grow in three-four years,” he said.
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