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Bandhan Bank Plans 48 Asset Centres Pan-India

The bank will open more than 550 new branches across the country in this fiscal.

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 Kolkata-headquartered Bandhan Bank has announced plans to set up 48 retail asset centres across the country in this financial year. The bank opened its first asset centre in Bhubhaneshwar on Monday.  Another such centre will also come up in Cuttack in the coastal state. 

“The bank is on its journey to diversify its assets portfolio and asset centres will play a critical role in the same. We are also looking at growing the current products as well as introducing new products in the retail asset range,” said Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank.

Bandhan Bank is also expanding its exposure geographically and planning to open more than 550 new branches across India within the current fiscal, Ghosh added. 

The newly opened asset centres are equipped to cater to the loan requirements of around 10.5 lakh existing customers of Odisha, as well as New-to-Bank customers, the bank said in a statement.

“These are specialised centres for processing of loans and will house office of the various asset vertical staff of the Bank. Any customer looking for loans from the Bank may walk into the asset centre, enquire about loans and also deposit EMIs for any existing loans with Bandhan Bank,” the statement added.

The asset centres will work with the credit processing, legal, valuation and other relevant agencies as part of the loan sanctioning process. These centres will also help channel partners get better collaboration from the bank.

At present, Bandhan Bank has presence in 34 out of 36 states and Union Territories. It has more than 5,646 banking outlets across the country serving more than 2.77 crore customers. The bank has mobilised deposits over Rs 99,366 crore, and its total advances stand at Rs 95,835 crore, as on September 30, 2022.

Bandhan Bank reported a net profit of Rs 209.30 crore in the quarter ended in September 2022 on the back of a fall in bad loans.