Bandhan Bank has announced the opening of 125 new banking outlets across 15 states, which adds to up over 4,000 outlets in the country.
The new outlets were opened after Reserve Bank of India (RBI) lifted restrictions on opening new branches.
In India, Bandhan Bank now has 4,414 outlets in all, including 1,013 branches, 3,206 banking units and 195 home loan service centers.
'We are happy that with the withdrawal of restrictions on opening new branches, we will be able to expand business growth rapidly,” said Bandhan Bank MD and CEO Chandra Shekhar Ghosh.
“In our four-and-a-half-year existence as a universal bank, we have been quick to identify opportunities of expanding distribution and setting up our presence. The 125 new banking outlets will help further serve our customers who have shown faith in us. We are confident on continuing our growth trajectory driven by the trust that our customers and stakeholders shower on us.”
Bandhan Bank has a presence across 34 of the 36 states and Union territories in India.
Out of the 125 new banking outlets, 42 have been opened in Uttar Pradesh, 29 in Rajasthan, 12 in Madhya Pradesh, 7 each in Andhra Pradesh and Telangana, 6 in Bihar, 5 in Chhattisgarh, 4 in Orissa, 3 in Tamil Nadu, 2 each in Uttarakhand, Karnataka, Maharashtra, and Assam, and 1each in Delhi and West Bengal.
As on December 31, 2019, Bandhan Bank served 1.9 crore customers and had deposits worth Rs 54,908 crore and advances worth Rs 65,456 crore. The total business of the bank stood at Rs 1,20,364 crore.
Bandhan started in 2001 as a not-for-profit enterprise that stood for financial inclusion and women’s empowerment through sustainable livelihood creation.
It turned into an NBFC a few years later but the core objective remained financial inclusion. When Bandhan Bank started operations on August 23, 2015, it was the first instance of a micro finance entity transforming into a universal bank in India.
On the day of launch itself, Bandhan Bank started with 2,523 banking outlets.
Bandhan Bank is driven by a constant desire to serve better. It offers world-class banking products and services to urban, semi-urban and rural customers alike.
In the last few years of operations, Bandhan Bank has spread its presence to 34 of the 36 states and Union territories in India with 4,414 banking outlets serving 1.9 crore customers.
