Bandhan Bank triples number of branches to 1,500 in less than 8 years

Private lender Bandhan Bank on Wednesday said it has trebled its branches in nearly eight years of its operations, totalling 1,500 at present. A statement said the lender now has a network of 6,000 banking outlets across the country.

The Kolkata-based bank started operations with 501 branches on August 23, 2015. Presently, it is spread across 34 states and UTs. It said that the lender is committed to fulfilling the diverse financial needs of people with tailored products to suit everyone's needs through physical or digital channels.

MD and CEO of the bank, Chandra Shekhar Ghosh, said, "India needs deeper financial penetration so that access to banking is available to everyone." The bank has diversified its asset base and expanded its geographical presence beyond its traditional regions, the east, and the northeast, with an even mix of rural and urban markets, the statement added.

The MFI-turned-lender is also increasing the share of secured loans in its asset portfolio, offering loans for retail products like home loans, personal loans, and auto loans, the statement said.

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