Public sector Indian Bank is aiming to expand its branch strength by adding 100 branches nationally by next financial year. Of this 25-30 branches would be in Kerala, Mr Rajeev Rishi, Executive Director, told reporters here on Friday.
Presently, Indian Bank has over 1,800 branches in India and 3 overseas—— Singapore, Colombo and Jaffna. Within the three years, it was planning to increase its bank strength to 2,500, total employees to 25,000, a Rs 5 lakh crore business and Rs 2,500 crore net profit, he said.
There were also plans to enter the capital market through IPO route by next fiscal, he said adding they have already written to the government and RBI.
The bank’s focus would be on the rural population, particularly those in remote villages, he said. Under Financial Inclusion project, the bank would be covering about 20,000 villages within the next two years. In Kerala, it has already brought Kollam district under complete financial inclusion, he added.
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