Bandhan Bank plans 4 branches in AP, Telangana
Bandhan Bank plans 4 branches in AP, Telangana. Bandhan Bank which will commence its nationwide operations later this year is planning to open four branches in Andhra Pradesh and Telangana.
Hyderabad: Bandhan Bank which will commence its nationwide operations later this year is planning to open four branches in Andhra Pradesh and Telangana. The bank, which received new banking licence from Reserve Bank of India, will set up one branch in Visakhapatnam and three in Hyderabad.
President Pranab Mukherjee will launch the bank in Kolkata on August 23. The branches in both the Telugu states will also commence operations on the same day. Initially, it will establish 14 branches across south India, covering Karnataka, Kerala and Tamil Nadu apart from Telugu states.
“South is a mature market and there is great potential for Bandhan Bank to serve this region. To start with we will have 14 branches across the region and will offer financial services to all sections of the society. In due course we will ramp up operations,” said Chandra Shekhar Ghosh, Managing Director and Chief Executive Officer, Bandhan Bank.
We believe that it is every citizen’s right to have access to financial services. We are well-equipped now as a bank to address this need and to serve everyone with honesty and ethics, he added. Bandhan Bank will start operations with a Rs 11,000-crore book, capital of Rs 3,200 crore, 500-600 branches and 250 ATMs across India.
International Finance Corporation, Singapore government-backed GIC and the state-run Small Industries Development Bank of India have invested in Bandhan Bank. “We have a robust capital base and our capital adequacy ratio is much higher than what the banking regulator has stipulated. This and a competent risk management team will help us build the bank,” said Ghosh.
