Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank, said that a major objective of the bank is to expand its distribution as far as possible outside the eastern region of the country by opening 551 new branches in the fiscal year 2022–23
Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank, said that a major objective of the bank is to expand its distribution as far as possible outside the eastern region of the country by opening 551 new branches in the fiscal year 2022–23.
According to him, the Kolkata headquarters bank will now have more than 6000 branches.
He further added that it is not enough to have just one Bandhan bank on the scale that the current bank is in such a large country. The new branches will predominantly be outside East India and already have a significant presence.
Ghosh said that at the seventh anniversary celebrations of the bank, it was announced that the expansion of the bank in other parts of the country would be a priority.
92 per cent of the total transactions in the bank are now conducted digitally, which has been a great success for the digital transformation of the bank. Bandhan Bank recently added mutual funds to its product portfolio.
The bank has also launched another product, especially catering to the younger audience, he said.
Previously, microcredit constituted the entirety of the lenders' advance book, he commented. Currently, the share of microedit has dropped to 44 per cent and the remaining 56 per cent consists of non-microfinance loans.
He mentioned that the number of home loan customers has grown to three lakh, year on year and the portfolio rose by nearly 20 per cent. The bank is well positioned to disburse over 8000 wheeler loans every month during this current fiscal, up from 3000 in the previous.
