ICICI Bank expands network in TS, AP

Hyderabad: ICICI Bank on Thursday announced that it has expanded its retail network in Telangana and Andhra Pradesh by adding 57 new branches in this fiscal. This is part of the nationwide branch expansion initiative of the bank.

In FY'20, the bank aims to open 450 new branches across the country, of which 388 have already been opened. Anup Bagchi, Executive Director, ICICI Bank, said: "We believe that a wide branch network continues to be important for retail banking. It helps deepen the relationship with the customer by serving them a wide range of products and offerings."

Bagchi further said, "our strategy is to set up branches wherever business activity emerges. In line with this strategy, we have expanded our branch network from prominent cities to emerging locations and even villages which were unbanked until now."

Of the new branches opened in the state, two are in villages namely, Karivena in Kurnool district and Boinpalle in Mahabubnagar district.

Other branches have been opened in locations such as Hyderabad, Vijayawada, Tirupati and Visakhapatnam among others.

The expansion in the State has resulted in the bank now having a network of 402 branches and extension counters in Telangana and Andhra Pradesh along with 1,580 ATMs.

The bank now has a retail network of over 5,260 branches across the country.